Taxes contribute to the development of the infrastructure we use and the maintenance of the public healthcare system.

1. SAR Professional Corporation, CPA
Address: 3515A 32nd Street NE Calgary, Alberta T1Y 5Y9, Canada
Phone: 403-204-0897, 403-890-5254
info@saraccounting.com
https://www.saraccounting.com/
How the CRA Business Audit is Done
The CRA's risk-assessment systems identify the tax returns that are deemed to be at a high risk
of non-compliance. After designating a return as high-risk, a CRAofficer will look at data from
several sources to determine whether an audit is required to address the risks.
Our CRA business audit will typically call you to initiate the audit process. Additionally, the
auditor will provide you a letter verifying the details of the audit. You might not feel
comfortable conversing with the auditor unless you are confident that they are a representative
of the CRA. After that, you can end the call and give the auditor or team captain a call again.
You could wait to submit more information until you get the audit confirmation letter.
It is advisable that you respond to their questions as best you can once you are certain of the
auditor's identification and, if necessary, provide the auditor access to your office and your
books and records. Cooperation with the auditor will lead to a seamless and successful audit.
What You Need To Know About Audits
Taxes contribute to the development of the infrastructure we use and the maintenance of the
public healthcare system. The Revenue Agency, a division of the government responsible for
collecting taxes, conducts audits every year to ensure that individuals and businesses are paying
their fair share of taxes. The integrity of the tax code is upheld via audits, which stop tax
evasion. Everyone must pay their debts on time for the system to work.Audits are one approach
to ensure that happens.
An audit is when a tax expert looks through a taxpayer's financial documents. They ensure that
the individual or business owner is abiding by tax laws and paying all required taxes. They will
also ensure that the taxpayer receives any benefits or credits to which they are qualified.