If you have never been audited before, you probably have no idea what to expect. Most audits follow the same 15 stages (more or less).

For years it was an open question as to whether or not a Canada Revenue Agency auditor owed a duty of care to a taxpayer under audit.

For years it was an open question as to whether or not a Canada Revenue Agency auditor owed a duty of care to a taxpayer under audit.

This would allow the CRA auditor to see what changed from the draft report to the final report.

Subsection 152(1) of the Income Tax Act (the "Act") imposes that the Canada Revenue Agency ("CRA") "with all due dispatch", examine and assess an income tax return of a taxpayer.

Under the previous policy, relatively low threshold CRA contact (such as a request for information or a broad educational letter) could be sufficient to disqualify a disclosure. The updated policy instead focuses on whether the CRA has initiated an audit or investigation - that is, whether significant compliance work on the specific issue has already begun.

In The Bank of Nova Scotia v The Queen, the Tax Court of Canada (TCC) considered how to calculate arrears interest on an audit adjustment that is offset by a loss carryback.

The recent release of the "Pandora Papers" marks the third database leak containing confidential banking information regarding alleged off-shore tax havens and the identities of those who benefit from these accounts.

Still, there are several different standards to pick from, and customers should consider the advantages and disadvantages of each standard when negotiating agreements with vendors.

Current US vs. Canada trade tensions may be extending into US Customs & Border Protection ("CBP") audit, review and investigative...

In Deloitte & Touche v Livent Inc. (Receiver of) 2017 SCC 63 the Supreme Court of Canada revisited the scope of auditor liability for negligence.

In a significant decision on December 20, 2017, the Supreme Court of Canada provided important guidance on the scope of responsibility of auditors in Canada.

The Canada Revenue Agency (CRA) has revealed that $458 million in funds distributed to employers through a pandemic-era wage subsidy program have either been denied or adjusted.

In my first article in this series, I expressed the opinion that the entire Harmonized Sales Tax system and its legal framework are fundamentally flawed.

As a family-business advisor, whenever I meet with clients, we invariably discuss their goals, objectives and yes, even their dreams.

The Canadian Securities Administrators (CSA) recently published Staff Notice 51-364 (the "Staff Notice"), summarizing the results of its Continuous Disclosure Review Program for fiscal years...

From the key products and services offered to their customers to critical back-office functions like accounting and regulatory reporting, financial institutions rely on licensed software to perform many of their most important functions.

A Federal Court case demonstrates the severe consequences of ignoring Canada Revenue Agency Requests for Information during tax audits. When a landscaping corporation and its principal failed to comply with a court-ordered production of financial documents, they faced substantial fines and a 30-day jail threat, highlighting the critical importance of proper RFI compliance with guidance from experienced tax counsel.

Cybersecurity is one of the greatest threats facing modern businesses.