CRA ADOPTS 2-YEAR AUDIT WORKPLANS
LARGE BUSINESSES UNDER AUDIT TO FACE BROADER INITIAL RECORDS REQUESTS
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The Canada Revenue Agency (“CRA”) has recently announced an important administrative change affecting many large business audits (“Audits”). More specifically, CRA has advised at a major industry roundtable that rather than examining one taxation year at a time, Auditors may now adopt a two-year Audit workplan and request records from multiple years at the outset of an Audit.