North America: Accounting and Audit

When the Canada Revenue Agency (CRA) concludes that a GST/HST registrant’s books and records do not provide a complete or reliable picture of its taxable sales, it may reconstruct those sales using an alternative or indirect audit method.

Discovering previously unreported offshore assets or foreign income can instantly trigger significant financial and legal anxiety for Canadian taxpayers.

La promulgación de la Ley 526 de 2026 en Panamá introduce obligaciones estrictas para las empresas que forman parte de grupos multinacionales y perciben rentas pasivas de fuente extranjera. Con la entrada en vigor fijada para el periodo fiscal 2027, las organizaciones rezagadas se exponen a una tarifa impositiva del 15% sobre su renta neta gravable de fuente externa si no logran demostrar una presencia operativa real dentro del territorio nacional. Ante este panorama normativo, delegar la administración contable y laboral en proveedores locales calificados deja de ser una alternativa de eficiencia para convertirse en un pilar de cumplimiento legal.

British Columbia's Money Judgment Enforcement Act promises to revolutionize debt collection by creating a centralized registry and empowering civil enforcement officers with expanded seizure authority. While the 2023 legislation was expected in 2025, creditors and debtors alike need to understand how these sweeping changes will transform the enforcement landscape once implemented.

Companies facing financial distress often miss early warning signs that could mean the difference between recovery and insolvency. From maxed-out credit lines and covenant breaches to deteriorating fundamentals and reporting red flags, recognizing these indicators early allows businesses to engage turnaround advisors who bring critical experience and perspective to navigate challenges before they become crises.

Companies often report consistent profits while their liquidity position quietly deteriorates, with revenue recognition and healthy margins masking stretched receivables, accumulating inventory, and increasingly short-term financing. This divergence between paper profits and actual cash flow is particularly acute in multinational operations, where currency mismatches and complex intercompany arrangements obscure the fundamental question of available unrestricted cash. By the time warning signs become undeni

Ultra-high-net-worth individuals and families face a valuation environment that is far more complex than simply determining the worth of an asset. In the context of trust, gift, and estate tax planning, valuation becomes a foundational discipline that affects wealth transfer strategy, tax efficiency, compliance, and long-term family outcomes.

In recent years, the accounting profession has been grappling with a concerning trend: a shortage of skilled workers. According to the American Institute of CPAs (AICPA)...

Cybersecurity breaches concerning workers' personal information and retirement savings have increased liability risks for benefit plans and third-party administrators under federal benefits laws.

When the Canada Revenue Agency (CRA) concludes that a GST/HST registrant’s books and records do not provide a complete or reliable picture of its taxable sales, it may reconstruct those sales using an alternative or indirect audit method.

Discovering previously unreported offshore assets or foreign income can instantly trigger significant financial and legal anxiety for Canadian taxpayers.

The Canada Revenue Agency (CRA) employs a sophisticated, risk-based methodology to select taxpayers for a tax audit, ensuring compliance across the vast Canadian tax system.