We solve serious CRA tax problems

Audited Financial Statements

Sam Faris in a business suit working on a laptop at a modern office desk with a plant and blurred cityscape in the background.

Faris CPA brings clarity and simplicity to the issues and complexities that your business faces on a day-to-day basis.

You can be confident in our expertise and reply commitment to you. We will review and audit of your financial statements. This allows us to provide the independent, objective assurance that your company needs and stakeholders demand.

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Chartered Professional Accountant in Canada, U.S. and U.K.

Case Study

A new client had a difficult CRA audit that disallowed an HST refund valued at almost one million dollars. The CRA audit revealed that his previous accountant had made significant errors which resulted in the disallowing a very significant HST refund.

Sam Faris and his team performed an intensive review of the proposal letter from the CRA along with the income tax act. We were convinced that the case would be won if the records were corrected and a new argument was submitted as a replace to the proposal letter from the CRA.

The CRA auditor denied the response. Our firm filed a Notice of Objection to the CRA.

The Notice of Objection was successful, and our client was able to recover, not only the original refund, but there were additional amounts that the previous accounted had missed that were awarded to our client as well.

FAQS

What is included in audited financial statements?
Audited financial statements include a profit and loss statement, balance sheet, statement of cash flows, and statement of changes in owners’ equity. They help you keep track of your records and transactions.
What is the difference between audited and unaudited financial statements?
Audited financial statements have been examined by a third-party accountant who can confirm that the information is accurate and factual. On the other hand, unaudited financial statements don’t have that guarantee.
How long does it take to have financial statements audited?
It takes up to three months to audit financial statements. The process includes four weeks of planning, four weeks of fieldwork and four weeks of compiling the audit report.
I looked for the best tax consultant and the best tax accountant to consult with regarding a serious tax natter. I found Sam and I consulted with him with respect correcting my filed tax returns by my previous accountant. He was very helpful in providing the information and was transparent about my situation. He also recommended to file all returns under the voluntary disclosure program so I can save the penalty and the interest. I followed his advice and the results are outstanding and exceptional. If you are in search for the best CPA and the best tax advisor in Toronto and the GTA, I highly recommend hiring Sam Faris and his firm.
The entire team at Faris CPA was outstanding to work with. I approached the firm after I lost trust in my previous CPA to properly deal with my offshore reporting. I consulted with Faris CPA and decided to hire the firm. Faris CPA took my case seriously and considering the time constraints, the team worked beyond business hours including weekends and was able to file all returns under the voluntary disclosure program and I became protected under this program and I finally got a peace of mind. Faris CPA is the best tax accounting and the best CPA firm in Toronto that I highly recommend to hire for any issue with the CRA.
Sam Faris was recommended to me by my best friend as the best tax accountant in Toronto to handle my unfilled corporate and personal tax returns to avoid any escalation with the CRA. Since my file is time sensitive, he prioritized my file and made sure that the process flows perfectly without any delays. In addition, he made sure that all his work is prepared in a way to protect me from the CRA if CRA to perform a tax audit. Needless to mention that he performed a smart tax planning and saved me significant amount of taxes. Finally, he filed all returns under the voluntary disclosure program where he saved me the penalties too. I am very grateful to Sam for all his hard work and I recommend him as he is the best tax consultant and the best CPA in Toronto to handle all tax problems with the CRA.
I needed help with my tax audit with the CRA and was looking for the best tax accountant and the best tax advisor in Toronto who can successfully handle my case without promising the moon and achieving nothing. I did a thorough search online before involving Mr. Faris. When I found him online I found out that he helped my best friend resolving her tax audit issue too and she highly recommended him. When I met with him at his office, I explained the problem and he reviewed all communication with respect to the CRA audit that I am facing. I hired Sam to deal with the tax audit and the results that he achieved for me were beyond expectations. He was able to confidently represent me with the CRA and his work is unbeatable. Don’t waste your money and hire Faris CPA the best tax consulting firm in the country.