For restricted and prohibited firearms, the individual or the business must have them verified, and that's linked to the registration certificate. In this case there will be a record of that firearm.
The gap—and this is the concern I'm hearing—is really around the non-restricted firearms. Individuals or businesses, whether they are external or internal to Canada, are not required to verify the firearm, and since they are non-restricted, they're not subject to registration. Therefore, no record is required.