Audit Shield

What is Audit Shield?

Audit Shield provides cost-effective protection and assistance against the substantial cost sometimes incurred should the CRA or other Canadian Government revenue authority conduct an audit, inquiry, investigation, or review. Audit Shield will cover the cost of J.M.H. Adams Chartered Professional Accountants' time to respond to CRA letters regarding GST and Income Tax inquiries or reassessments.

What is Covered by Audit Shield?

They recently announced that your premium will also cover our time for pre and post assessment, including phone calls, in responding to wage and rental subsidy reviews of:

  • Canada Emergency Wage Subsidy (CEWS),

  • Canada Emergency Rent Subsidy (CERS),

  • Canada Recovery Hiring Program (CRHP),

  • Tourism and Hospitality Recovery Program (THRP),

  • Hardest-Hit Business Recovery Program (HHBRP), and

  • Local Lockdown Program (LLP)

While still covering:

  • Corporate Tax Filings

  • Personal Tax Filings

  • GST/HST Filings

  • Employer Compliance Audits

  • Business Audits

  • Any query of any lodged filing where the client is compelled to respond or act

This is great news for clients subscribing to Audit Shield, as we understand more CRA review activity is on its way.

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