Practice

Practice

Part II: Deloitte Cyprus exposed – Global accounting giant accused of faking papers to hide $10B for Russian oligarch

The Deloitte-Abramovich files describe conduct no Canadian accounting firm would touch, writes Canadian tax lawyer and accountant David J. Rotfleisch
Practice

Calgary foundation’s $3.5M loan to director's company provided 'undue benefit': CRA

CRA non-compliance included failure to meet annual quotas for amount spent on charitable activities or donations, and providing undue benefit to director
Practice

Deloitte Cyprus exposed – Global accounting giant accused of faking papers to hide $10B for Russian oligarch

In the first of two articles, Canadian tax lawyer and accountant David J. Rotfleisch examines the schemes exposed by forensic analysis in accounting terms
Practice

Opinion: Donating to a registered charity is not wrongdoing

Canadian tax lawyer and accountant David J Rotfleisch on what a recent article by the IJF about the Asper Foundation gets wrong about Canadian charity law
Practice

Ontario accountants lead national coalition calling for tax reform

Chartered Professional Accountants of Ontario joins five national, provincial organizations representing over 700,000 businesses, professionals across Canada
Practice

CRA is now auditing two years at once. Smaller practices should pay attention

The Canada Revenue Agency is organizing its audit work around patterns across years, writes Syed Saif Ali. The bottom line for practitioners is not alarm
Practice

British Columbia's PST on accounting services is paused, not repealed

Koby Smutylo of Smutylo Law+ presents five tips for BC accounting, bookkeeping firms to manage the temporary tax regulation on professional services
Partner Posts

Intuit Intelligence now available in Canada: what's new in Intuit Accountant Suite for accounting firms

Cross-client portfolio insights, Firm Playbooks and Unified Inbox give Canadian accounting firms a way to deliver advisory work across their whole client base
Practice

Accounting firm RSM Canada LLP censured by Canadian audit watchdog for backdating signoffs

CPAB settlement agreement details six-year history of RSM auditors violating auditing and quality control standards related to sign-offs on audit workpapers
Practice

When a client asks a CPA to "confirm source of funds": Define what the letter actually does

A CPA's signature can turn a narrow records review into a much broader assertion in the eyes of a bank, lawyer, regulator, or immigration decision-maker
Practice

Canadian audit watchdog issues audit inspection reports for Grant Thornton branded accounting firms

The Canadian Public Accountability Board released audit inspection reports for Doane Grant Thornton, Grant Thornton U.S., and Raymond Chabot Grant Thornton
Thought Leaders

Canadian accountants need an AI evidence ledger before automation scales

The point is not paperwork for its own sake, writes Dr. Gleb Tsipursky. AI evidence ledgers answer questions accounting firms otherwise discover too late
Practice

Selling the family business to the kids: the tax rules now require the parent to leave

The statute conditions for intergenerational business transfers are strict, writes Koby Smutylo. Here are six things to settle before the tax memo is right
Thought Leaders

Canadian accountants need authority budgets for AI digital employees

Accounting firms now need to decide how much authority software should receive before a human must approve what happens next, writes Dr. Gleb Tsipursky
Partner Posts

The rise of AI in investment accounting: A new standard in productivity and compliance

The real advantage of AI in investment accounting, says Brian McGlynn, lies in the deployment of solutions engineered around securities portfolio workflows
Practice

Selling a business to an employee ownership trust: the tax memo can be right and the deal can still fail

The $10-million capital gains exemption is permanent. Your client's control over the company it applies to ends the afternoon he signs, explains Koby Smutylo
Practice

The salary-dividend decision after the small business rate cut

In part two of his two-part series, Bashar Qawas of Better Books Canada delves deeper into the unevenness of small business rate cuts in Ontario and Quebec
Practice

Philanthropists critical of Nakba exhibit donated $4.8M to groups later sanctioned

Canada Revenue Agency has revoked tax status of many Canadian charitable organizations academic asserts are “largely just conduits” for overseas funding
Practice

The small business rate cut that partly reverses in January

In part one of a two-part series, Bashar Qawas of Better Books Canada explains the timing mismatch in cuts to the small business corporate income tax rate
Partner Posts

AI Digital Employees in Accounting: The next stage of automation

Future accounting teams could include local accountants, offshore accounting professionals, automation and AI Digital Employees, explains Ryan Morris.
Practice

Federal Court sets strict Mutual Agreement Procedure (MAP) deadline in reassessment deals with Canada Revenue Agency

The FC Robinson MAP deadline ruling has implications for cross-border taxpayers, owner-managers, corporate groups, and accountants, says David J Rotfleisch
Thought Leaders

When an immigrant entrepreneur's business plan, net worth and source of funds have to tell one financial story

For internationally connected entrepreneurs, the central question is not, ‘How do we make this immigration file stronger?,’ writes Usman Khalil, RCIC, CPA
Thought Leaders

As accountants, we tested our own pitch for advisory services. The data says clients need controllership first

For a large share of Canadian small and mid-sized businesses, the work that would help most is controllership, writes Eric Saumure, CPA, CA, of Zenbooks
Profession

Deloitte used AI in $1.6M government report, but watchdog CPA NL says it can’t investigate

Chartered Professional Accountants of Newfoundland and Labrador cannot investigate Deloitte Inc., the legal entity that produced flawed AI consulting report
Practice

ExxonMobil Canada Resources Company v. the King, case study

Lorne Saltman of Gardiner Roberts LLP explains why the Tax Court rejected the CRA’s position that a $36-million pipeline feasability study was not deductible