Canada: Accounting and Audit

Cross-border taxpayers, corporations, investors, and high-net-worth individuals increasingly face scrutiny from both the Canada Revenue Agency (CRA) and the Internal Revenue Service (IRS).

The perception that Internal Revenue Service enforcement is stronger than Canada Revenue Agency enforcement is common among taxpayers and advisors, particularly in cross-border contexts.

The Scientific Research and Experimental Development (SR&ED) tax incentive program remains Canada’s most significant federal support mechanism for innovation, providing billions annually in SR&ED tax credits to businesses conducting qualifying research and development activities.

The British Columbia Supreme Court decision in Lewis v. WestJet Airlines Ltd. (2025 BCSC 1565) clarifies the circumstances under which accountants' work may be protected by legal privilege.

La Colombie-Britannique a récemment proposé d’étendre l’application de la taxe de vente provinciale de 7 % (la « TVP de la C.-B. ») aux services professionnels autres que les services juridiques. Si cette mesure est adoptée, la TVP de la C.-B. s’appliquera aux services professionnels suivants à compter du 1er octobre 2026

Taxable accounting services include preparing accounting records, providing assurance services, bookkeeping, billing, account reconciliation, and cost, financial, forensic, management, or tax accounting services.

Fraud risk poses a critical threat to First Nations governance, with increasing scrutiny from community members, funders, and courts demanding greater financial accountability. Strong internal controls, active oversight mechanisms, and proactive fraud prevention strategies are essential to protect collectively owned resources and maintain stakeholder trust.

On October 17, 2022, the Québec Court of Appeal in Centre universitaire de santé McGill c. Lemay held that the voluntary disclosure of a solicitor-client privileged forensic accounting report to a police force in the context...

The lifeblood of any business is its ability to collect cash and pay bills as well as pay its employees, particularly its owners.

Sports Injury And Economic Loss

The IASB recently issued Clarification of Acceptable Methods of Depreciation and Amortization.

In a recent case, the Supreme Court of Canada, was asked to examine whether plan members had an equitable interest in the defined benefit surpluses in three federal government pension plans.