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ARTICLE · 19 JANUARY 2021

Are You Ready For Your CEWS Audit?

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The Canada Emergency Wage Subsidy (CEWS) program is by now well-known.

CanadaAccounting and Audit
Blake A. Haarstad
Blake A. Haarstad
Anu Nijhawan
Anu Nijhawan
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The Canada Emergency Wage Subsidy (CEWS) program is by now well-known. It was introduced by the federal government on March 15, 2020, and pays a qualifying employer adversely impacted by the COVID-19 pandemic up to 75 percent of its employees' eligible remuneration. The basic idea is to provide subsidies to certain Canadian employers who experienced a drop in revenue due to COVID-19 in order to encourage them to retain (or re-hire) their workers until normal operations could be resumed. It appears that many employers took the government up on their offer because, as of January 10, 2021, over 2.1 million CEWS applications had been received and nearly 99 percent were approved. To date, nearly $57.8 billion in subsidies had been paid out.

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