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Financial Services Review: Specials Magazine
Today’s income streams are evolving faster than our ability to keep up with tax laws. From viral content creators and online entrepreneurs to business owners and individuals with offshore assets, the way people earn money has changed— yet Canada’s tax system remains rooted in the past. Whether it’s years of unfiled returns, unreported or underreported income in Canada or offshore, or fear of Canada Revenue Agency (CRA) penalties, many individuals don’t recognize the risks until it’s too late. Amid the storm of audits, penalties, and uncertainty, Faris CPA offers calm, strategic guidance to bring clients back to solid ground. A trusted consultant in high-stakes tax resolution, founder Sam Faris helps clients avoid or manage unexpected audits, mounting interest, legal consequences, and the overwhelming stress that often accompanies CRA disputes. With over two decades of hands-on experience, he delivers practical, judgment-free tax solutions—without the inflated fees of a tax lawyer. “I’ve worked with a variety of clients—from teenagers who made millions online to professionals with undisclosed offshore assets—all of whom share the same fear of what might happen if they don’t act,” says Faris. “Our goal is to resolve tax issues quickly, without scare tactics, and to avoid further escalation with the CRA, which would be more costly and time-consuming. We offer only honest expertise and a transparent fixed-fee model from day one.” Faris assists clients—ranging from individuals and owner-managed businesses to large corporations—by helping them avoid expensive legal fees typically charged by tax lawyers. Whether it involves the Voluntary Disclosures Program (VDP), which allows individuals to reduce penalties, or handling reassessments, he gets clients back on track—legally and efficiently. Consider a recent case: a client hired Faris to correct corporate books that had been mishandled by a previous accountant and to file amended corporate tax returns. During the review, Faris discovered that a substantial amount of personal funds had been withdrawn from the corporation but had not been properly reported on the client’s individual tax returns. Faris promptly brought the issue to the client’s attention and recommended submitting amended personal tax returns through the VDP before the CRA initiated contact. The client agreed, and Faris swiftly prepared and submitted the necessary documentation.
Business Valuation Service In Canada - 2025
Understanding the true value of a business is integral for its overall health and successful future endeavors, including exit strategies, succession planning, and divestitures. Most entrepreneurs, therefore, seek precise valuation that goes beyond mere guesswork and serves as a foundation for more in-depth discussions and negotiations. That’s where a distinguished business valuation expert, Troy Valuations, can help. Established with a mission to help businesses reduce their risk in transactions, it offers impartial valuation services that enable them to make informed decisions. Troy Valuations’ expertise lies in offering unbiased evidence-based conclusions, empowering clients to undertake complex corporate negotiations, facilitate business transactions, secure funding, and develop robust investment strategies. With exceptional ability to ascertain asset values, support fair divisions, and provide evidence for equitable settlements, the firm ensures objective resolutions in legal matters. Troy Valuations’ commitment to precision is exemplified in the production of accurate business valuation reports for divorce settlement, litigation, and strategic tax planning, bringing clarity to negotiations and trials. “Our specialized knowledge in business valuations helps quantify the risks involved in business transactions, ensuring compliance and accountability with the industry standard,” says Caroline Troy, president of Troy Valuations. A team of qualified and seasoned professionals is central to Troy Valuations’ excellence. Led by Caroline, a chartered business valuator from Canadian Institute of Chartered Business Valuators (CBV Institute), the team applies professional standards from an independent and objective perspective to provide clients with fair valuations and analysis to meet their diverse needs. There is no one-size-fits-all way to value business, and Troy Valuations embraces a personalized approach to client engagement. It begins with an in-depth discussion and reviews a list of their documents to understand their needs and objectives. Clients can easily submit these requested documents via an online portal accessed only through two-factor authentication. This is integral for ensuring the confidentiality of information.
AI Powered Assets Under Management Solution In Canada - 2025
Business valuations provide a comprehensive analysis of a company’s worth, enabling stakeholders to make well-informed decisions and drive growth. Engaging expert valuation services grants businesses a thorough comprehension of their value, empowering them to make prudent decisions that stimulate expansion, manage risks, and optimize overall worth. This is where interVal steps in, offering innovative solutions to democratize access to valuation in a seamless and automated fashion. Founded on the premise of bridging the gap between business owners and their financial advisors, interVal has revolutionized how accounting firms, banks, and wealth management firms interact with their clients. “We believe the valuation process is a fundamental right for all business owners, rather than a luxury reserved for a select few,” says Trevor Greenway, Co-Founder & CEO of interVal. One of the primary challenges business owners face is the lack of time and resources to dedicate to valuation. Founded by industry veterans who drew on their experience in M&A firms and a deep understanding of industry challenges, the interVal team addresses the need for a more accessible and streamlined approach to valuation; one that prioritizes transparency, efficiency, and empowerment. This empowers business owners to better understand their company's value drivers, identify growth opportunities, and mitigate risks. By embedding their valuation and business health feedback systems into the year-end process, interVal enables accountants and advisors to become proactive during client meetings. This integration not only saves time but also enhances human capital, which is crucial in an era marked by declining workforce participation in the accounting profession. interVal's platform acts as a conduit, surfacing valuable insights and opportunities for accountants and advisors to focus on areas where human expertise is most impactful. On the other hand, interVal democratizes access to critical information for business owners, providing them with actionable insights into their business's strengths, weaknesses, and growth potential. Through its automated valuation and business health metrics, interVal empowers business owners to make informed decisions on a day-to-day basis, ultimately driving business growth and value enhancement. Key to interVal's success is its customer-centric focus, which prioritizes the needs of business owners and their advisors. The company integrates its valuation tools seamlessly into existing workflows by partnering with accounting firms and financial advisors, empowering advisors to deliver proactive guidance and support to their clients. One such instance was when a client of an esteemed accounting firm approached interVal for a manufacturing business’s valuation. The company received valuable information regarding their financial status, discovering that their enterprise value is approximately $8.7 million. interVal's system also detected significant factors, such as excess working capital that exceeded industry standards.
CXO INSIGHTS
Technology Reshapes Digital Lending Space
Garnett Volk, Vice President, Conexus Credit Union
Navigating Financial Waters among Equity Underwriting, Acquisition Decision-Making, and Collateralized Loan Underwriting
Rebecca Pang, Regional Vice President, Business Financial Services, RBC
AI Is the New Path To Development
Suzanne Gratch, Head of Accounting and Finance and CFO, Showcase
Transforming Risk Solutions with an Insight-Driven Approach
Leeanne Barnes, Senior Vice President Enterprise & Operational Risk Management, OMERS
AI Analytics: The Singular Path to Success
Ziv Deutsch, VP, Growth & Data, KOHO
Aimco,s New Look
Denise Man, Chief Technology Officer, AIMCo
Aligning Digital Transformation Strategies With Business Objectives
Laura Money, Executive Vice President & Chief Information and Technology Innovation Officer, Sun Life
IN FOCUS
Technology Trends Reshaping Tax Practices in Canada
Tax departments are evolving with technology, using analytics, cloud tools, and cybersecurity to become more strategic, secure, and efficient.
Future-proofing Tax Consulting: Meeting the Demands of Canada's Diverse Economy
Tax consultant accounting firms in Canada are evolving with digital tools, regulatory changes, and globalized operations to offer accurate, compliant, and value-driven tax advisory solutions.
EDITORIAL
Accounting at a Turning Point
Financial clarity is no longer a back-office function. It has become central to how businesses plan, scale and respond to change. Across Canada, firms are reevaluating the role of accounting and tax advisory—no longer viewing them as reactive services, but as active contributors to strategic direction. What’s driving this shift is not just regulation or risk. It’s complexity. Global supply chains, evolving tax codes, cross-border digital operations and a new generation of finance technology have transformed the accounting space. Businesses need partners who understand the nuances and can translate numbers into decisions that move the organization forward. Technology has accelerated expectations. Real-time reporting, AI-driven forecasting and seamless integration across financial systems are no longer add-ons—they are baseline requirements. Yet the real differentiator remains the same—trust. In times of volatility, companies lean on advisors who bring both technical strength and sound judgment. Relationships matter, and so does deep domain knowledge. This issue features leaders who reflect that shift. Professionals like Sébastien Poirier at UNI Financial and Julie Ellsworth-Enman at Sofina Foods, are part of a growing network of decision-makers bringing agility and foresight to the finance function. Their inclusion speaks to a broader trend—finance professionals are stepping forward as business strategists. The path ahead demands more than tools and automation. It calls for expertise rooted in context and relationships grounded in reliability. As financial operations grow more connected, so too must the people managing them. Whether preparing for audits, navigating changing policies or planning the next phase of growth, the best firms see accounting as a driver, not a report. Accounting is no longer just about accuracy. It's about adaptability, insight, and leadership—qualities that define the new standard in finance.
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