How To Effectively Manage a CRA Audit: Tips & Tricks

  • Accountant
  • CPA (CA)

Published: May, 2022

You need to register for the webinar to watch the video.

Click Here to Register

Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Understanding the audit process
    5 mins
  • Taxpayer's obligations
    22 mins
  • What to expect in a CRA audit
    34 mins
  • Preparing for an audit
    73 mins
  • Systemic challenges
    100 mins
  • Settlement and negotiation with CRA
    132 mins
  • Voluntary disclosure
    146 mins

Course Description

This CPD Online webinar is for Canadian CPAs only!!

The Canada Revenue Agency (CRA) administers tax laws and various benefit programs for the Government of Canada and several provinces and territories. Audits are an important part of the CRA’s range of activities aimed at making sure the tax system is fair for everyone. During an audit, the CRA closely examines the books and records of a taxpayer to confirm whether they are fulfilling their tax obligations, following tax laws correctly, and receiving the benefits and refunds to which they are entitled.

Most taxpayers comply with the tax laws in Canada. The CRA’s auditing processes help these taxpayers better understand and meet their obligations, as well as help to maintain public confidence in the fairness and integrity of Canada's tax system.

If you are self-employed or own a small business, excessive business expense claims can trigger an audit as well. While the CRA may find a small home office reasonable, it may raise red flags if you claim that your office takes up 50 or 60 percent of your home.

Similarly, if you claim 100 percent of your vehicle expenses as business expenses, that also raises suspicion. The agency assumes that you likely use most vehicles for personal use at least once in a while.

Join this CPD course to understand everything about CRA audit and the red flags that trigger it.

Following are the major topics covered in this CPD webinar:

  • Understand the audit process
  • How to stay off the CRA’s radar
  • What can raise the red flags and trigger an audit
  • How to prepare for an audit
  • Explain the audit process and recent trends
  • Understand taxpayer’s rights
  • How to negotiate with the CRA
  • What is voluntary disclosure/ taxpayer's relief request

Learning Objectives

  • To analyze the audit process.
  • To identify factors that may trigger an audit.
  • To discuss how to complete the audit smoothly
  • To analyze strategies for negotiation and settlement.
  • To discuss the challenges and pressure of an audit.
  • To inspect the general trend of CRA audits.
  • To know what are the taxpayer’s rights and obligations.
  • To analyze how to prepare for a tax audit and learn about its process.

Recommended For

  • This Online CPD webinar is recommended for CPAs in Canada who wanted to understand everything about CRA audit and the red flags that trigger it.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Certificate in Investment Performance Management
  • Certified Management Accountant (CMA)
  • Chartered Accountant
  • Chartered Global Management Accountant
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Wealth Management Advisor
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 3 General Credit for Accountant/Bookeeper
  • 3 CPD Credit of Taxes for Chartered Professional Accountant (CPA Canada)

Additional details

  • Course Level :
    Basic
  • Credits :
    3
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

Presenter

About Presenter

Big4 CPA

Founder, AK Consulting Inc.

We are a team of Big4 CPA, CA and other professionals. We offer wide range of professional development courses for CPA members relating to Canadian Taxation, International tax, Accounting, Ethics, Business, Workplace Teams & Culture, High Performance, Soft skills, and Personal Development.

We also work with third party content creators to offer unique CPD for our CPA members, such as on latest technology, cyber security, digital marketing. and various other interesting topics.


Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
  • Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here : https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

We use cookies to make your experience on this website better