Audit Shield

About Audit Shield

Heartland CPAs offers the Audit Shield Fee Waiver Service (provided by Accountancy Insurance Brokers Limited) to our clients. Audit Shield is cost effective protection and assistance against the substantial cost that may be incurred should the CRA or other Canadian Government revenue authority conduct an audit, enquiry, investigation or review.

What is audit activity?

Audit activity includes any audit, enquiry, investigation or review which is instigated by the Canada Revenue Agency (CRA) and other provincial agencies to ensure business and tax payer compliance with various tax and legislative requirements such as Personal Tax, Business Audits, Payroll Audits, GST/HST and Capital Gains Tax, amongst others.

Fee Waiver Service

How common are audits, enquiries, investigations or reviews?

The CRA and other government revenue bodies continue to focus on review and audit activity. These agencies are consistently provided with resources for this purpose.

Who provides the Audit Shield Fee Waiver Service?

Audit Shield is provided by our accounting firm and we hold an Audit Shield insurance policy (underwritten by Lloyds) which mirrors this service.

What is the Audit Shield Fee Waiver Service? Why should I consider it?

Our firm’s Audit Shield Fee Waiver Service provides for the payment of professional fees incurred as a result of your filed return being selected for an audit, enquiry, investigation or review. The cost of being properly represented in these matters can be quite significant. Even if no adjustments are required, you could still be left with considerable professional fees if you are not protected by Audit Shield. It provides a fixed, cost effective solution to guard against these unbudgeted costs.

What filed returns/financial compliance obligations are covered?

Audits and reviews instigated by Provincial Agencies such as PST
Business Audits
Capital Gains Tax
Corporate Tax - full and area specific
Employer Audit Program

Employer Compliance Audits
GST/HST
Payroll Audits (T4)
Personal Tax (post Assessment T1)
Plus more!

Who is covered?

All of our clients are invited to participate in the Audit Shield Fee Waiver Service. Different levels of coverage are available for T1s and businesses. In most cases individuals and other family entities can be covered with the business entities – for no extra cost. If you decide to participate, your coverage commences one business day after your payment is received.

Is it mandatory to participate?

No, Audit Shield is an option our accounting firm provides to you, our client. You have the opportunity to participate in or decline the offer.