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Logo M7 Group
  • Why M7
  • Services
    • Bookkeeping
    • Business Formation
    • Corporate Tax
    • Cross-border Tax and Accounting
    • Financing Solutions
      • Bank Solutions for Small Business
      • Cashflow for Business
      • Cashflow for Trucking
    • Payroll
    • Tax Advisor
    • CRA Audit Protection
    • Virtual CFO
    • Personal Tax Easy tax filing
      File taxes today
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    • Payroll Managed payroll support
    Are you starting up a business?
    Launch your business online
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    • Startups and Entrepreneurs
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    • Trucking
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    • Food & Beverage
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    Schedule a Free Consultation
  • File todayPersonal Tax
    • Do-it-yourself
    • Review & File
    • Full Service
    • Self-employed
    • Do-it-yourself Start your simple tax return online for $0.
      MOST COMMON
    • Review & File Start your simple tax return included a review by M7 tax expert for $79.99.
    • Full Service A tax expert prepares, reviews, and files your taxes with 100% accuracy.
    Self-employed tax
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Business, Corporate Tax, Personal Tax

Behind the Books: Your Audit-Proofing Checklist

August 15, 2025

Your books tell a story. When that story is clear, documented, and backed by strategy, you don’t just survive a CRA audit — you fly through it.

At M7 Group, we’ve seen too many businesses get caught off guard simply because their documentation wasn’t airtight. The CRA’s review process is increasingly powered by AI, scanning for patterns and flagging returns that stand out from industry norms.

If you want to stay off their radar — or be ready if they call — here’s your audit-proofing checklist to tighten your financial documentation, align your claims with CRA expectations, and protect your business.

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Need help reviewing books?

The Essentials

Receipts & Records
▢ Scan and store every receipt — label with date, vendor, and category

▢ Match every expense to a clear business purpose

▢ Keep digital copies in Google Drive, Hubdoc, or Dext for quick retrieval

Bank & Statement Alignment
▢ Reconcile every account monthly

▢ Cross-check bank/credit statements with your bookkeeping software

▢ Investigate large, unexplained deposits or withdrawals immediately

Mileage Tracking
▢ Use a mileage app like MileIQ, Everlance, or TripLog

▢ Automatically log business vs. personal trips

▢ Avoid claiming 100% business use unless fully documented and justified

Side Income & Rentals
▢ Document a profit plan — rent increases, upgrades, cost reductions, or exit strategy

▢ Track income and expenses separately for each property or income stream

▢ Avoid recurring losses without a plan — CRA can reclassify this as hobby income

Filing Discipline
▢ File on time every year, even if you can’t pay immediately

▢ Include all required schedules and supporting documents

▢ Save a PDF copy of every submission for your records

Pro Tip from M7 Group

The CRA uses AI-driven tools to detect outliers. If your deductions, claims, or income patterns differ significantly from others in your industry, your return is more likely to be reviewed.

The solution: Let your books speak for you — with clarity, accuracy, and consistency. When everything matches your story and you can back it up instantly, an audit becomes just another day at the office.


✅ Need help reviewing your books before CRA does?
Book your free consultation with M7 Group and we’ll walk you through a full audit-proofing review so you can operate with confidence.

📩 Book your free strategy session: BOOK A FREE CONSULTATION

M7 works closely with business owners and beyond to build confident, data-driven financial systems.

📞 Book a free consultation and start scaling smarter from day one.
📧 Have questions? Write to us at: [email protected]

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