Tax Auditing & Returns
Tax Audits are generally performed when regulatory bodies like banks, creditors, potential purchasers and an investor looks for an auditor’s opinion of the produced financial documents. It helps to helps to increase degree of reliability in the financial statements. This is achieved by our expression of an opinion on whether the financial statements are prepared, in all material respects, in accordance with the applicable financial reporting framework. If you own a company and need your tax returns to be audited we're more than happy to help you out. We have helped many different with auditing services and you can always reply on us to provide proper clarifications and also a comprehensive report. Keeping up with the latest CRA approved norms, our aim is to always help your business progress.
Things to remember before a Tax Return Audit
The Canada Revenue Agency usually chooses to audit companies if they some sort of inconsistencies in a company or individual's tax returns. They may do so if the return filings don’t seem to be providing clarity about your finances. Business owners and self-employed individuals are often more likely to be audited. If you're facing such situations, these are some things that you should always keep in mind.
- Properly organize all important documents to help the in making the process faster and less complicated.
- If you do not posses certain few documents or papers, make sure to get them at hand and make them available for the auditor.
- Always maintain complete honesty and try to avoid elaborate explanations for the concerned situation.
- Before the day of the audit, take some time and try to understand your own taxes.
If you're confused about tax return audits and dealing with such things for the first time, we can always happy to help you out. Reach out to us as per your convenience to discuss more in detail.