6 Board Reporting tax and accounting engagements in full — what the client came to us with, what we did, and what it was worth. Each one is specific to board reporting work, not a general example.
Case Study 1 · Cash and remittance control
Instalments Rebased, $31,500 Of Cash Returned To The Business — Family Business Planning Succession, Kitchener
Client: A family business planning succession · Where: Kitchener, Ontario · Engagement: 8 weeks, fixed fee
Cash returned$31,500
Instalment basisCurrent year
ReviewedQuarterly
The situation
A family business planning succession in Kitchener, Ontario was paying instalments calculated on a prior year that no longer reflected the business. Revenue up 40% year over year and a bank balance that kept falling was tying up $31,500 of cash.
What we did
We rebased the instalments on the current-year estimate rather than the prior-year default, and rebuilt the reporting around gross margin by service line, which showed two of five offerings were losing money at the current price.
The result
$31,500 of cash stayed in the business, the penalty cycle ended, and the instalment position is reviewed each quarter against actual results.
Case Study 2 · Sale and succession
$560,000 Sheltered By The Lifetime Capital Gains Exemption — Distributor Entering a Second, Red Deer
Client: A distributor entering a second province · Where: Red Deer, Alberta · Engagement: 10 weeks, fixed fee
Gain sheltered$560,000
ClosingOn schedule
Share qualificationMet
The situation
A distributor entering a second province in Red Deer, Alberta had an offer on the table and 10 months to close. The shares did not qualify for the capital gains exemption, and a single shareholder holding every share, with no room to multiply the exemption was part of the reason.
What we did
We purified the corporation so the shares met the qualifying tests, then modelled the covenant ratios monthly and restructured the debt before the next test date rather than after it well ahead of the closing date.
The result
The sale closed on schedule with $560,000 sheltered by the lifetime capital gains exemption across the shareholders.
Case Study 3 · Records and systems rebuilt
29 Months Reconciled And $16,500 Of Input Tax Recovered — Professional Practice Adding Partners, Victoria
Client: A professional practice adding partners · Where: Victoria, British Columbia · Engagement: 4 weeks, fixed fee
Months reconciled29
Input tax recovered$16,500
Close time9 days
The situation
A professional practice adding partners in Victoria, British Columbia was carrying a growth plan with no forecast behind it and no financing lined up. Nothing reconciled, and every filing started with 29 months of cleanup.
What we did
We rebuilt from source rather than correcting on top of the existing file. We produced a board-ready monthly package — cash, margin, pipeline and covenant headroom — that replaced a spreadsheet nobody trusted, then set the routine that keeps it clean.
The result
29 months reconciled to the bank. The close now takes 9 days, and $16,500 of previously unclaimable input tax was recovered in the process.
Case Study 4 · Missed incentive claimed
$34,000 Credit Claim Filed And Accepted Without Adjustment — Mid-Sized Professional Services Firm, Windsor
Client: A mid-sized professional services firm · Where: Windsor, Ontario · Engagement: 10 weeks, fixed fee
Claim value$34,000
AcceptedWithout adjustment
RepeatableAnnually
The situation
A mid-sized professional services firm in Windsor, Ontario assumed the credits did not apply to a business its size. Revenue up 40% year over year and a bank balance that kept falling meant they had applied all along.
What we did
We identified the qualifying activity, built the documentation to support it, and built a rolling thirteen-week cash-flow model, tightened collections, and renegotiated supplier terms so the growth stopped consuming the bank balance.
The result
$34,000 recovered. Because the eligibility analysis is on file, the same claim can be repeated each year with a fraction of the effort.
Case Study 5 · Deadline rescue
9-Week Turnaround Beat The Deadline And Saved $40,000 — Clinic Group Acquiring a, Moncton
Client: A clinic group acquiring a competitor · Where: Moncton, New Brunswick · Engagement: 9 weeks, fixed fee
Late-filing penalty avoided$40,000
Filed with24 days to spare
Next yearPapers ready
The situation
With the deadline for board reporting weeks away, a clinic group acquiring a competitor in Moncton, New Brunswick was carrying an owner making hiring decisions on last quarter’s bank balance. The exposure if the date slipped was around $40,000.
What we did
We rebuilt the reporting around gross margin by service line, which showed two of five offerings were losing money at the current price. The filing went in complete rather than provisional, so there was no amended return to follow.
The result
Filed with 24 days to spare. $40,000 in late-filing penalties avoided, and the working papers are ready for the following year.
Case Study 6 · CRA review defended
$127,000 Proposed Adjustment Withdrawn In Full — Construction Company Bidding Larger, Barrie
Client: A construction company bidding larger contracts · Where: Barrie, Ontario · Engagement: 5 weeks, fixed fee
Adjustment withdrawn$127,000
File closed in5 weeks
Penalties assessedNone
The situation
A construction company bidding larger contracts in Barrie, Ontario received a proposal letter opening a review of board reporting. The CRA had identified revenue up 40% year over year and a bank balance that kept falling and proposed an adjustment of $127,000, with 30 days to respond.
What we did
We treated the response as an evidence exercise rather than an argument. We modelled the covenant ratios monthly and restructured the debt before the next test date rather than after it, then indexed every supporting document against the specific line the auditor had questioned.
The result
The proposed adjustment was withdrawn in full — all $127,000 of it. The file closed in 5 weeks with no change to the assessed amounts and no penalty.
Reviewed for the 2025 tax year by Udit Gupta, Certified Tax Accountant. Figures describe representative engagements of this type; outcomes depend on your own facts. Client names and identifying details are omitted for confidentiality.
