MSSI Financial Accounting and Reporting Services
MSSI specializes in the preparation of quarterly, semi-annual, and annual financial statements, including comprehensive note disclosure. We also administer Canadian Flow-Through Share programs, and offer special compliance assistance on transactions such as business combinations, acquisitions or strategic re-organizations.
Our full service bookkeeping and payroll departments are designed to meet the day-to-day back office accounting administration of your company. Payroll administration is achieved through use of Ceridian’s “Powerpay” application, and includes annual payroll tax reporting to the Canada Revenue Agency and employees.
With systems designed to meet the needs of small to mid-sized reporting issuers, MSSI is the preferred choice of many issuers from the back office to the boardroom.
Our core suite of services are as follows:
Financial Accounting & Reporting
- Preparation of unaudited interim or annual financial statements in accordance with International Financial Reporting Standards (IFRS)
- Interim reporting with a dedicated financial reporting analyst examining the issuer’s books and records for the period
- Through an established process, preparation of financial statements, including a comprehensive set of notes for client review, comment, and acceptance
- Execution of the annual statutory audit by working with the reporting issuer’s auditors
- Filing of quarterly or annual documents with DSA Filing Services, seamlessly integrating the process of preparation, client review, and public filing of a reporting issuer’s documents on SEDAR
Bookkeeping including Payroll
An assigned bookkeeper will ensure day-to-day transactions are recorded correctly and in a timely manner in accordance with your instructions.
Core bookkeeping services include:
- Periodic disbursements (i.e. scheduled cheque runs)
- Administration of funds transfers (i.e. wire payments)
- Processing of expense reports
- Processing scheduled periodic payroll: recording of payroll entries and salary payments for members of Board of Directors, Committees, management and employees
- Maintenance of aged accounts-payable and accounts-receivable listings
- Maintenance of general ledger and sub-ledgers
- Recording of journal entries
- Preparation of trial balances
- Preparation and submission of Harmonized Sales Tax (HST) and Quebec Sales Tax (QST) returns on a timely basis
- The production of reports using specialized accounting software based on the client’s identified needs
Some of the more popular ancillary services include:
- Administration of the issuer’s participation in the Canadian Flow-Through Share program, including preparation of flow-through tax filings, submission to governmental regulatory bodies, and preparation of comprehensive supporting back-up files. Flow-through submissions remain one of the Canada Revenue Agency’s favourite targets for compliance audit, making compliance crucial
- Assistance with accounting and reporting for business combinations and acquisitions, such as a reverse takeover, acquisition of a third-party company, or an asset spin-out
- Assistance in preparing the necessary disclosure and reporting documents, including pro-forma financial statements
RBC Royal Bank – Products and Services Offered to MSSI Clients
- Access to RBC’s sophisticated and flexible online banking platform called RBC Express ®
- RBC Express ® provides local and global cash management needs through a convenient and secured web-based clients can access anywhere, anytime. RBC Express ® services include: balance reporting, account activity, account transfer, balances, bank statements, digital image on all paper transactions, funds transfer, stop payments, ACH direct deposit (Automated Cleaning House) wire payments, etc.
- Preferred Fixed Rate Investment account: A solution designed for surplus funds that reflects what most of our clients have identified as critical for their business: optimal yields on liquid securities with minimal fees and online access*.
* Investment solutions only available to clients in the mining industry
- Access to one of the world’s largest traders in foreign currencies, RBC Capital Markets
- Foreign currency accounts
Letters of Credit/Guarantee & VISA cards
- Access to Trade Finance specialists with extensive international trade experience for any trade finance products and services. Guarantees and Standby Letters of Credit are essential tools to help businesses establish its performance capability and financial integrity with clients and suppliers.
- Access to the Business VISA cards that better suits the needs of your company
® Registered trademarks of Royal Bank of Canada. RBC and Royal Bank are registered trademarks of Royal Bank of Canada.
The MSSI team includes:
Cash handling department
Internal control department
Harvey Tan, Internal Controls Compliance Officer