The Tax Chick Podcast CRA Audits: What to do (and what not to panic about)!
Being audited by the CRA can feel stressful, especially with audit activity on the rise. In this episode I walk through what a CRA audit actually looks like and what to do if you or your client receives an audit request, including:
[2:00] How audits are triggered (including the difference between a full audit and a limited review)
[3:00] Limitation periods, and the basics of what to look for in an introduction letter
[5:10] what the CRA is entitled to ask for, and how to respond in a way that’s organized and strategic.
[6:55] Common concerns about electronic records
[11:35] Solicitor‑client privilege
[16:05] Deadlines, and how audits typically come to an end.
This episode is for business owners, advisors, and anyone who wants to understand the audit process without panic.
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