Today’s financial services industry is faced by new demands from investors and regulators alike. These changing demands affect their business processes.
The industry continues to address regulatory reform and altering financial reporting requirements. They must deal with the implementation of cost-effective technologies, competitive talent acquisition circumstances, and increasing demands from all stakeholders.
Our financial accounting services can help you develop a more accurate and complete picture of your resource inflows and outflows.
Our team can provide you with:
- Audit and technical accounting services.
- Regulatory, compliance, and bookkeeping services.
- High level accounting, financial, taxation, and business advisory services.
- Fund structuring and tax planning services.
- Input on legislative and regulatory developments impacting your industry, and
- Guidance on fund operations.
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 of the HST refund valued at approximately 1 million dollars.
He was referred to our firm by another client of ours.
We 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.