At the heart of these enterprises' financial well-being stand accountants, the most valued partner, for most business owners, who play a crucial role in steering their clients through the intricate maze of financial management of not only their business but personal financial life as well.

At WealthCo, we recognize the tremendous value in having clients who are actively engaged in their financial matters.

Wolters Kluwer released their annual accounting survey late last year, highlighting the top challenges faced by accounting firms and their primary goals for 2023.

The Association of Certified Fraud Examiners (ACFE) in its latest Report to the Nations states, “occupational fraud is very likely the most costly and most common form of financial crime in the world.”

It's a critical reminder for all businesses, especially considering that 75% of small- and mid-sized accounting firms say they would only be able to survive less than a week if they suffered a major cyberattack, according to a survey commissioned by CyberCatch earlier this year.

Canadians pay a significant amount in taxes. Among the 38 member countries of the Organisation for Economic Co-operation and Development (OECD), Canada had a tax-to-GDP ratio of 34.4% in 2020, compared with the OECD average of 33.5%.