6 Interim CFO Services 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 interim cfo services work, not a general example.
Case Study 1 · CRA review defended
$95,000 Proposed Adjustment Withdrawn In Full — Mid-Sized Professional Services Firm, Burnaby
Client: A mid-sized professional services firm · Where: Burnaby, British Columbia · Engagement: 8 weeks, fixed fee
Adjustment withdrawn$95,000
File closed in8 weeks
Penalties assessedNone
The situation
A mid-sized professional services firm in Burnaby, British Columbia received a proposal letter opening a review of interim cfo services. The CRA had identified pricing set by feel, with no visibility into margin by service line and proposed an adjustment of $95,000, 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The proposed adjustment was withdrawn in full — all $95,000 of it. The file closed in 8 weeks with no change to the assessed amounts and no penalty.
Case Study 2 · Cash and remittance control
Instalments Rebased, $132,000 Of Cash Returned To The Business — Manufacturer Planning a Plant, Barrie
Client: A manufacturer planning a plant expansion · Where: Barrie, Ontario · Engagement: 5 weeks, fixed fee
Cash returned$132,000
Instalment basisCurrent year
ReviewedQuarterly
The situation
A manufacturer planning a plant expansion in Barrie, Ontario was paying instalments calculated on a prior year that no longer reflected the business. A growth plan with no forecast behind it and no financing lined up was tying up $132,000 of cash.
What we did
We rebased the instalments on the current-year estimate rather than the prior-year default, and produced a board-ready monthly package — cash, margin, pipeline and covenant headroom — that replaced a spreadsheet nobody trusted.
The result
$132,000 of cash stayed in the business, the penalty cycle ended, and the instalment position is reviewed each quarter against actual results.
Case Study 3 · Objection and relief
$129,000 Of Penalties And Interest Cancelled On Relief — Fast-Growing E-Commerce Brand, Edmonton
Client: A fast-growing e-commerce brand · Where: Edmonton, Alberta · Engagement: 11 weeks, fixed fee
Penalties and interest cancelled$129,000
Relief groundsAccepted
AssessmentAdjusted to filed position
The situation
An assessment of $129,000 landed at a fast-growing e-commerce brand in Edmonton, Alberta following a desk review. The auditor had not seen the records behind a covenant breach discovered only when the bank called.
What we did
We built a rolling thirteen-week cash-flow model, tightened collections, and renegotiated supplier terms so the growth stopped consuming the bank balance, then set out the legislative basis for the position alongside the documents supporting it.
The result
$129,000 of penalties and interest was cancelled under the taxpayer relief provisions, and the underlying assessment was adjusted to match the filed position.
Case Study 4 · Sale and succession
$805,000 Sheltered By The Lifetime Capital Gains Exemption — Professional Practice Adding Partners, Brampton
Client: A professional practice adding partners · Where: Brampton, Ontario · Engagement: 10 weeks, fixed fee
Gain sheltered$805,000
ClosingOn schedule
Share qualificationMet
The situation
A professional practice adding partners in Brampton, Ontario had an offer on the table and 15 months to close. The shares did not qualify for the capital gains exemption, and passive assets sitting inside the operating company, disqualifying the shares was part of the reason.
What we did
We purified the corporation so the shares met the qualifying tests, then rebuilt the reporting around gross margin by service line, which showed two of five offerings were losing money at the current price well ahead of the closing date.
The result
The sale closed on schedule with $805,000 sheltered by the lifetime capital gains exemption across the shareholders.
Case Study 5 · Scaling without breaking
Second-Province Expansion Handled, $28,000 Of Cash Released — Construction Company Bidding Larger, Kelowna
Client: A construction company bidding larger contracts · Where: Kelowna, British Columbia · Engagement: 11 weeks, fixed fee
Cash released$28,000
New registrationsComplete on day one
Compliance gapsNone
The situation
Revenue at a construction company bidding larger contracts in Kelowna, British Columbia was up sharply and cash was tighter than ever. Underneath it sat an owner making hiring decisions on last quarter’s bank balance.
What we did
We modelled the covenant ratios monthly and restructured the debt before the next test date rather than after it. Every new obligation — registration, remittance frequency, provincial filing — was set up before it was triggered, not after.
The result
$28,000 of cash was released from the working capital cycle, and the expansion completed with every registration and filing obligation covered from day one.
Case Study 6 · Records and systems rebuilt
Month-End Close Cut From 8 Weeks To 9 Days — Subscription Business Tracking Churn, Ottawa
Client: A subscription business tracking churn · Where: Ottawa, Ontario · Engagement: 3 weeks, fixed fee
Close time before8 weeks
Close time after9 days
Year-endReview, not rebuild
The situation
The accounting file at a subscription business tracking churn in Ottawa, Ontario was built on pricing set by feel, with no visibility into margin by service line. The year-end had taken 8 weeks each of the last three years.
What we did
We produced a board-ready monthly package — cash, margin, pipeline and covenant headroom — that replaced a spreadsheet nobody trusted and moved the reconciliations into the monthly cycle, so the year-end stopped being a rebuild.
The result
The file reconciles. Month-end closes in 9 days instead of 8 weeks, and the year-end is a review rather than a reconstruction.
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.
