Would you like to learn more about Audit Shield and go into the draw to win a $100 Amazon gift voucher?
Simply complete the form below to enter and one of our friendly team members will be in contact with you shortly.
Count on Audit Shield to help you get paid when your clients are hit with a CRA review or audit.
Audit Shield is the answer to all of your fee write off problems when it comes to CRA reviews and audits.
Our story dates back to 2003 down under, where an Australian CPA, frustrated with how much time was being written off due to taxation review activity, created what is now the leading audit protection service in Australia and New Zealand.
With our proven track record, and experience of the accounting industry, we have been offering the same great protection to over 500 Canadian CPA firms, since 2016 – serviced from either our Toronto or Calgary office.
Audit Shield is a no up-front cost solution for your accounting firm that allows you to continue to provide your clients with the great service they deserve, just without the fee write offs.
Don’t let the CRA drive you CRA-zy! Check out our brochure to learn more.
Audit Shield claims in Canada
The Accountancy Insurance Claims Department continues to be busy processing claims from client CPA firms across Canada.
In fact in the 4 years we have been in Canada we have paid/accrued $9M in claims to CPA firms just like yours.
The three most common review/audit activity areas that have been noted were:
> Processing Reviews of T1’s
> Corporate Post-Assessment of T2’s
> GST/HST/PST/QST Reviews of Businesses (Pre and Post Assessment Reviews)
Of the processing reviews of T1’s, medical expenses, charitable donations and moving expenses were the biggest types. While these amounted to 37% of the total number of claims received, they equated to only 12% by value.
The big 2019 CRA T2 limited review project is on vehicle expenses. The other project CRA seems to have just launched is from Aggressive Tax Office – T1 distributions from trusts and Apprenticeship Training Tax Credit reviews. In the prior year it was Professional Fees and Class 10 Vehicles.
