Don't Panic! Has Your Canadian Charity Been Selected for a CRA Audit? A Guide to Prepare

This episode provides guidance to Canadian charities on preparing for and managing audits by the Canada Revenue Agency (CRA).

‍It highlights the potential consequences of audits, including revocation of charitable status and reputational damage.

‍The discussion details the CRA audit process, common audit triggers, and possible outcomes, ranging from education letters to revocation.

‍Furthermore, it outlines steps charities can take to prepare for an audit, such as maintaining proper documentation and seeking professional support.

‍Finally, the episode identifies common audit issues like inadequate record-keeping and impermissible political activities, emphasizing proactive compliance and professional advice to mitigate risks.