You never know when your books are going to be checked for tax investigation by Canada Revenue Agency (CRA). Because of this, it would be wise for you to consult an insurance accountant for audit protection before the agency happens to pick your company for audit. You can find a lot of accountancy insurance companies that offer assistance toindividuals or companies who may be subjected to tax enquiries, reviews of file return or investigation.
These investigation insurance companies offer financial assistance to companies during tax review since there are expenses that would be accrued during the process. This means that a company with audit protection would be covered for all the expenses during the investigation or tax enquiry by CRA. With the insurance protection, you won’t have to worry about unexpected financial obligations during tax investigations because you have the insurance to support you financially.
CRA audit protectionis suitable for individuals and business establishments or by companies. If you want an insurance policy for tax investigation,one of the things that you should check is the reputation of theinsurance accountant. Find out how long has their company been operating in the industry. A company that has been in the industry for long means that they have a steady set of followers that enabled them to thrive in the business. Choose a tax investigation insurance accountant that has been serving its clients for more than a decade.
Aside from industry experience,read testimonials and customer feedback on the company’s service delivery to know more about how the insurance firm handles their clients. Client testimonials can be found on the company’s website. This will give you an idea on the services offered by the company and how you can benefit from these services. Opt for a company with high ratings and positive feedback. It would also be best if the company you are considering for CRA audit protection is trusted by more clients. For referrals, ask your company’s insurance accountant or auditing firm or you can check the internet to find various service providers that you can contact.