Auditors expose chinks in Canada Revenue Agency's armour

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Auditors expose chinks in Canada Revenue Agency's armour By TII News Service Apr 11, 2012 , Ottawa
IT is not only CAG in India, but Auditors all over the world appear to be putting on new avatars - of course, aggressive one! As per the Report of the Canada's auditor general, the Revenue Agency is not able to effectively track down potential tax cheats because of resource constraints coupled with poor oversight and enforcement practices. The Report reveals that the Canada Revenue Agency has limited means to track down non-filers and non-registrants. On examination of non-filers programme, the auditors found that they contributed USD 2.8 bn additional taxes and penalties out of total budget of USD 4.5 billion.

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