Audit Insurance
The ATO has increased the level of audit activity by implementing sophisticated systems, including data matching and industry benchmarks.
The likelihood of a small business being selected for an ATO or State Revenue Office (SRO) audit has significantly increased.
Businesses can now take out Audit Insurance, which will cover the cost of an external accountant having to deal with the regulator, including extracting and forwarding all the requested information and then dealing with, and resolving the issues that arise. This may include meeting representatives of the ATO or SRO.
Please call us for more information on Audit Insurance.