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Courses/Accounting & Tax/Tax Planning & Compliance

CRA Audits Overview '24-'25 - Net Worth Audit Excel Included

A Comprehensive Overview of What You Need to Know When Faced with a CRA Tax Audit in 2024 & 2025.

Created bySteven Pitucci
4.6
(101 reviews)
BeginnerUpdated Jun 8, 2025
CRA Audits Overview '24-'25 - Net Worth Audit Excel Included

What You'll Learn

check_circleUnderstand the CRA’s audit objectives and government priorities.
check_circleNavigate the CRA’s Income Tax Audit Manual effectively.
check_circleIdentify common types of CRA reviews and audits.
check_circleRecognize typical audit triggers and adjustments.
check_circleFollow the CRA audit and tax objection processes step-by-step.
check_circleApply legal considerations and privilege strategies in CRA audits.

About This Course

In this comprehensive course, Steven Pitucci, a practicing CPA from Toronto, Ontario, discusses the main areas you need to know about audits executed by the Canada Revenue Agency (CRA), updated for current technical issues encountered by tax accountants and lawyers across Canada.

The ten areas covered in this course include:

  • Government stats and objectives pertaining to CRA audits.
  • Introduction to the CRA Audit Manuals, with a walkthrough of navigating the Income Tax Audit Manual (ITAM).
  • Types of reviews and audits that the CRA executes.
  • Common audit triggers and adjustments to tax returns.
  • CRA audit trends being observed in 2024 – including net worth audits, property flips, GST/HST carousel schemes, and other matters.
  • Steps in the CRA audit process.
  • Steps in the tax objection process.
  • Legal considerations when dealing with the CRA.
  • Legal privilege in tax audits (and when accountants can assert such privilege).
  • How to achieve the best results from a CRA tax audit.

Included in this course is a bonus section that contains a downloadable copy of a Net Worth Audit (NWA) spreadsheet template similar to one used by the CRA when conducting such audits. This resource is extremely useful for understanding how the CRA conducts its analysis in NWAs and can also be used to vet their findings. Steven includes a video walkthrough on how to use this spreadsheet and further discusses specific considerations related to NWAs.

Your Instructor

Steven Pitucci
Steven Pitucci

Accounting and Tax Educator, CPA, CA

menu_book16 courses
star3,707 reviews

As a Chartered Professional Accountant, I am currently navigating the complex world of forensic accounting & advisory in a Canadian insolvency firm. I am a former partner of public accounting firm serving Canadian individuals and privately-held businesses. I am also educating other accountants with all things accounting and tax. I have a passion for taking complex issues and teaching them to others in a manner that is understandable.

Credit Information

Do these courses count toward my professional development requirements?

This portal is provided as a training and development resource for City of Markham employees. Every course is delivered by a qualified subject matter expert or learning organization, is quantifiable in hours, and is verifiable — you receive a documented certificate of completion for every course you finish, stored on LearnFormula indefinitely.

If you hold a professional designation (for example in engineering, accounting, human resources, or law), courses may be counted as professionally relevant, verifiable learning activities toward your continuing professional development. Individual practitioners are responsible for confirming that an activity meets the requirements of their professional body. For questions about the City of Markham's training and development policies, please speak with your people leader or Human Resources.

What Students Are Saying

4.6
Student's Choice
101 reviews

Frequently Asked Questions

We are a registered provider with 327+ associations and regulatory bodies worldwide. We operate across 29 global markets including Canada, the US, Australia, and the UK. Every course page clearly displays its specific accreditations. Upon completion, you receive a professional certificate that can be validated online. Our certificates include all necessary accreditation details, credit hours, and completion dates, and are formatted specifically to meet the submission requirements of most global regulatory bodies.