Audit Protection

17-Aug-2011 One of the major fears  of most people is the risk of an Audit by the ATO. The ATO announced via it's website that it is stepping up it’s audit program & would be using random selection as well as statistical parameters across industries to identify audit targets. Not only are the ATO becoming more active, but audits surrounding Workers Compensation and payroll tax are also becoming more prevalent.

Not only is an audit potentially quite stressful, it can be quite expensive. Even if the result of the audit from the ATO shows you have done nothing wrong, the costs of engaging professionals to act on your behalf through the audit process can be an unplanned additional cost.  We remind our clients of the Audit Protection Insurance product we offer. For a nominal fee, this protects the policy holder & covers a significant amount of professional costs in the event of an audit. In light of the ATO’s release, should you be interested in mitigating this risk, please Contact Us.
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