The Canada Revenue Agency (CRA) released new information about its audit activities for charities. The CRA guidelines describe how a charity is selected for audit, the audit process and possible recourse for charities that are audited, as well as the types of audit information available to the public and statistics regarding the outcome of audits.
The CRA conducts audits of about 1% of Canadian charities each year, to verify that the charities satisfy registration requirements (there are between 800 and 900 registered charities across Canada).
Read a July 2015 report prepared by the KPMG member firm in Canada: CRA Details Audit Process for Charities
The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.