Practice

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
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
Practice

Notice of Assessment was never mailed? Federal Court of Appeal clarifies taxpayer must first prove non-delivery

The FCA Siam decision reinforces that taxpayers bear the burden of proving that a Notice of Assessment was not sent, and credibility plays a central role
Profession

PCAOB finally publishes first audit inspection reports of Canadian accounting firms this year

Deloitte Canada and De Visser Gray LLP receive excellent reviews from defanged US audit watchdog under deregulatory pressure from Trump Administration
Profession

Canadian Public Accountability Board censures EY Canada over answer sharing on professional development courses

Settlement between Canadian audit watchdog CPAB and Ernst & Young LLP brings closure to cheating scandals involving three of the Big Four accounting firms
Practice

Complaints about CRA rise 27% despite recent automated tax filing, call centre failures, processing delays, poor communication

Canada’s tax act is completely nuts; administrative modernization cannot succeed without legislative simplification, asserts tax lawyer David J Rotfleisch
Profession

Regional accounting firms post good results in recent CPAB audit inspection reports

Audit watchdog Canadian Public Accountability Board posts 2025 inspection reports for Baker Tilly WM LLP, Crowe MacKay LLP, DMCL LLP, RSM Canada LLP
Practice

Why R v Jarvis is the most important tax case for Canadian taxpayers

The 2002 Supreme Court of Canada decision presents a clear line between a CRA tax audit versus a criminal tax investigation, explains David J Rotfleisch
Practice

Tax Court confirms that taxpayers must provide clear instructions to apply refund balances

A recent Tax Court decision in BMLex Avocats v The King explains why a tax credit balance does not protect taxpayer from GST/HST instalment interest
Partner Posts

From transactional to trust: How Canadian accountants are redefining their role

The Scotiabank Accountant Banking Program addresses three barriers that prevent Canadian accountants from growing their practices, explains Pouya Zangeneh
Practice

When the CRA recharacterizes capital gains as business income: Happy Valley Farms, Stewart v. Canada

Canadian tax lawyer and accountant David J Rotfleisch dissects the legal framework, playbook governing Canada Revenue Agency audits, reassessments