The latest financial news and accounting tips from KWB.
Being audited is a difficult experience that can be both scary and costly. When being audited the professional and legal fees can amount to thousands of dollars quickly, so we found a way for you to insure against those unexpected professional fees by offering an audit insurance product called Audit Shield. With Audit Shield, claims […]
CRA Audit Approaches
If you have been selected for a CRA audit, you may be wondering what kind of tests they will perform. While this largely depends on whether the CRA auditor believes your records are accurate and reliable, they are also required to perform a number of indirect tests to verify that what you have earned has […]
How to Avoid a CRA Audit
If you want to figure out how to avoid a CRA audit there are a number of things you should know. Probably one of your worst nightmares is the dreaded audit letter from the Canada Revenue Agency (CRA) informing you that you’re going to be audited and CRA will send out approximately 30,000 such letters […]
Many companies may experience a Canada Revenue Agency (CRA) audit. Here’s what you need to know: Types of Audits: Not all CRA audits are the same! In some cases, they may only want to see records pertaining to one area or it could be a full audit. Here are a few details regarding the different […]