The economic crisis means that tax authorities are conducting more audits, looking for more revenue. Heightened agression on the part of tax authorities around the world means companies are challenging more adjustments than ever, leading to a condcurrent rise in contraversy.

In Canada, the Canada Revenue Agency (CRA) has allocated significant more funds to deal with audits. There has also been a substanial training program in CRA to improve auditor skills.
Businesses are needing more and more sofisticated help in finding solutions to their tax problems.

Tax audits are becoming more time consuming as the tax auditors are asking for more and more details, which can be very time draining and nightmaresh.

There is a mandatory request for contemporaneous documentation at the start of the audit.

There is a huge variance in the skill level of auditors across the country.

We are now at the stage where all businesses need to understand the importance of audit ready bookkeeping. Being ready for an audit means that you will not be put into a tail spin that ends up being a huge tax deduction retention problem. Audit Ready bookkeeping is a tax problem solution emplemented in advance of the problem.

Audit Ready Bookkeeping will become the norm in the near future. For more information on this subject go to www.tax-audit-solutions.com

Dan White