• How to Prepare for a CRA Charity Audit: Process, and Compliance

  • Feb 26 2025
  • Duración: 14 m
  • Podcast

How to Prepare for a CRA Charity Audit: Process, and Compliance

  • Resumen

  • This episode provides guidance to Canadian charities on preparing for and managing audits by the Canada Revenue Agency (CRA).

    It highlights the potential consequences of audits, including revocation of charitable status and reputational damage.

    The discussion details the CRA audit process, common audit triggers, and possible outcomes, ranging from education letters to revocation.

    Furthermore, it outlines steps charities can take to prepare for an audit, such as maintaining proper documentation and seeking professional support.

    Finally, the episode identifies common audit issues like inadequate record-keeping and impermissible political activities, emphasizing proactive compliance and professional advice to mitigate risks.

    This episode is jointly sponsored by B.I.G. Charity Law Group Professional Corporation, a Charity Law Firm exclusively serving charity and not-for-profit clients in Toronto, Ontario and across Canada with registration and governance, and B&H Charity Accounts Group, a bookkeeping firm serving Canadian charities in Ontario with all their financial and tax filing needs.

    https://www.charitylawgroup.ca/
    P: 416-488-5888

    https://www.charityaccountingfirm.ca/
    P: 289-301-8883

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