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.
Thank you Sam for all your help. You are the best tax consultant in town. Very high work standards too. Anyone who has tax audit with the CRA hire Sam he can save you. Top and best CPA. I cant thank you enough. Life saver.
A few months ago I consulted with Mr. Faris about my tax situation and the option to correct my returns under the Voluntary Disclosure Program. He was very helpful, very patient and honest and very informative. I decided to hire him accordingly. He and his team worked on my file 7/24 and submitted all returns under the Voluntary Disclosure Program. CRA accepted Faris CPA package with no problem. As a result, the penalty amounts came out to zero. Thank you to Faris CPA team especially Sam Faris for all the hard work and the commitment to my case. If you are looking for the best tax consultant and the best tax advisor and best CPA in Toronto, hire Faris CPA and you will absolutely be making the life saving decision.
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.