CRA Audit Advisory/Representation
We Are Chartered Professional Accountants
Both partners of Roth Schroder are former CRA Auditors. What does that mean for you? It means that we know the process from the inside. We know how to handle and deal with the CRA Auditors and what their expectations are. But most importantly, we know your rights, the boundaries of the CRA and the rules that they must abide by. We use our experience as CRA auditors for the benefit of our clients.
Have your been audited by the CRA? Are Worried You Might Be?
We know firsthand what Canada Revenue Agency is looking for when they audit your records. We provide a unique service to our clients, being former auditors we can protect your interest and advise you on your rights.
We draw on our experience when approaching client files requiring assistance in dealing with CRA. We know the ins and outs of the audit process, have in depth knowledge in tax and GST and know the Government standards.
Has the CRA audited you or your company?
If you are being assessed by an auditor, or if the Canadian Revenue Agency had selected your tax returns for review, you must get up to speed on your rights. With our help, you can capitalize on them, pay the taxes you owe and not the ones they ask for. We don’t just act as an intermediary, we actually analyze the facts and documents and determine where you stand. If it’s apparent to us that the CRA may have a valid assessment, we still work with you and the auditor to try and get the assessment lowered and to avoid or minimize any penalties. Having a qualified professional on your side can be very beneficial beneficial and helps to ease your stress so that you can still run your business.
Have you been assessed or have you received notification you’ll be audited?
If you have received notification from CRA, then the process has already begun. Usually, you must answer your auditor’s letter within a 30 day period. If you’d like to make an appeal, you can do so within 90 days from the day you were assessed. Call us and we’ll defend your rights.
Beware of waivers
The CRA may only examine your financial accounts and records within the first 3 years after the initial assessment notice was delivered. Make sure to read everything they give you, as they may try to fool you into signing a waiver that allows them to audit you even after the time has passed. Do not sign waivers of objection rights without consulting us first.
Dealing with the auditor can be a tricky, you need to be careful how you approach the situation. Answer the questions to the best of your knowledge, do not embellish and do not provide unnecessary information. The auditor can potentially use the information provided to expand their audit parameters.
It’s always best to stay on top of your audit and stay in touch with the auditor, or have someone representing you that can dedicate the time to take care of this for you. If you don’t provide explanations and/or documents requested by the CRA in a timely matter, they may make an assessment based on little to no information they have. More often than not, these types of assessments are not in your favour.
Visit the CRA Business Audit page to learn a little more about audits:
Behind on filings and the CRA is inquiring?
A lot of our clients come to us and are years behind on their filings. In a lot of these cases they need to get caught up because the CRA has intervened somehow, or the CRA has gone ahead and done an arbitrary assessment based on previous years or industry.
We are very familiar with these types of situations and aren’t afraid to take them on. Being behind on your tax filings and having the CRA knocking on your door can be stressful. Our job is to take care of it for you so you can relax and worry about running your business.
Not in trouble with CRA? That’s ok, we can still help you in any tax or GST issue you are facing. In addition to our experience with CRA Audits, we also have industry experience in providing expert business, tax and accounting advice. From strategic planning to creating budgets, at Roth Schroder we have you covered when it comes to making sound business decisions.
After fixing the books and records of our clients who had problems with CRA, the same clients hire us to be the bookkeepers and/or the controllers of their day to day operation.
“Before I contacted Roth Schroder I had had another accountant compile some information for the auditor in preparation for the actual audit. I’m glad I went with my gut and contacted Roth Schroder. They took complete control of the audit and handled everything. I didn’t even have to talk to the auditor! I later learned that the work completed by the other accountant actually put me in a worse position and the auditor had already come up with an assessment of nearly $100,000. By the time I got everything to Tope and Meagan, it was only two weeks before the audit was to start. They completely redid my records the CORRECT way and after providing their work to the auditor, the CRA no longer had a case against me and they actually accepted the loss of $60,000 that Tope and Meagan determined! Roughly $160,000 change in my favour all due to these girls. I can’t thank you enough. I will most definitely recommend you to anyone and everyone.”
– Michael C.
“I tried to handle my CRA Audit on my own. In the end, I ended up with and assessment of about $83,000. I didn’t understand any of what the auditor was saying and how they came up with $83,000 in additional income. The assessment was absolutely ludacrous, but I had no idea how to defend myself. Meagan and Tope fought for what I knew was wrong. My file ended up in appeals because the auditor wouldn’t budge. But, in the end, they got the entire assessment reversed and I couldn’t be happier. The amount of money I had to pay to Roth Schroder was far far far less than what I would have paid in taxes. These girls know what they’re doing and are worth every penney”
– Emma L.