My articling experience was received with KPMG-an international accounting firm. Here my experience included in-depth auditing techniques for both financial and compliance issues.
Having owned and operated my own retail businesses for over ten years, so I have both operational and financial experience. I personally had dealings with financial institutions during times of refinancing or loan requirements. Understanding the bank’s position is definitely an asset when approaching them for new or extended credit requirements. The business underwent an extensive audit from Revenue Canada. The Agency reassessed the tax filings resulting in a significant tax liability including interest and penalties. I was instrumental in defending our original tax filing position. Eventually, CRA overturned the reassessment, reversed the tax liability, interest and penalties and forwarded a considerable tax refund to the Company.
Having been the client during this period dealing with Canada Revenue Agency, the accountants and the tax preparers, I have never forgotten this confusing position. Often questions went unanswered. Phone calls were not returned. Canada Revenue Agency seemed a daunting governing body.