There is a good reason that more than 95% of our clients say that they would recommend Audit Shield to other accounting firms*.
The offering covers the professional fees that help you, as an accountant, assist your client to respond to an official audit, enquiry, investigation or review of filed returns with the Canada Revenue Agency (CRA) or other provincial authority. Audit Shield avails you the confidence to help your clients while our team deliver customised and comprehensive solutions that meet your needs.
How does Audit Shield work?
1. Your accounting firm offers the 'Audit Shield Fee Waiver Service' to clients.
2. Your firm’s clients can choose to participate in, or decline the offering.
3. Your accounting firm holds an insurance policy (Audit Shield) that covers the professional fees incurred as a result of audit activity. The terms of the Audit Shield Fee Waiver Service are a mirror of the terms and conditions of the insurance policy that your accounting firm holds.
Audit Shield provides cost effective protection and assistance against the substantial cost that may be incurred should the CRA or other Canadian Government revenue authority conduct an audit, enquiry, investigation or review. Our offer will cover the eligible costs of responding to the following audits:
- Corporate Tax Filings
- Personal Tax Filings
- GST/HST Filings
- Employer Compliance Audits
- Business Audits
- Any query of any lodged filing where the client is compelled to respond or act^
* Based on Accountancy Insurance's Client Perceptions Survey 2014 (Clients in Australia and New Zealand).
^ Subject to the terms and conditions of the policy. Information about our tax audit insurance policy cover is provided on the Policy Cover page.
Contact Accountancy Insurance to learn more about how Accountancy Insurance can help you to implement Audit Shield into your Canadian accounting firm. One of our team members will be in touch promptly to discuss your needs and tailor a tax audit insurance solution for you.