Receiving a notice of audit from the Canada Revenue Agency can bring stress to any business team. However, with consistent accounting standards, you can transform the process into a painless checkup.
What Do Auditors Expect to See?
Federal auditors look for clear trail documentation linking initial hours in a timesheet to net pay on employee accounts. General concerns include:
- Proving that taxable benefits (vehicle allowances, phone credits) are correctly detailed.
- Verifying correct calculations for employees relocated to different provinces.
- Having clear records of employer-side matching on CPP and EI payments.
Through our secure dashboard, UPayroll holds all your historic calculation records securely, ready to export on short notice.