Search results

What's the process with an audit? The Accounting firm gets a please explain letter, or the individual receives the letter as the first step Second step possibly being an invitation to visit the local ATO office or meet with an auditor?

That time of year again, just received an audit insurance request, the accounting firm holds a policy, but that only covers them and not us, however they can add us and other clients upon participation

Thanks Babushka those earlier links were interesting Thanks also to CoastyMike & Pat for the responses from an accountants perspective I'm guessing as per Dale's earlier posts, anything in respect to Part IVA would make the policy nul and void, which would be where most people at risk...

Would that lesssen the premium across the client base? How about if the accountancy firm takes it on for their practice and passes the cost across the board to all clients; would that be cheaper for the clients?

You don't want them doing that for free though do you Rob ;) Just a thought as per Babushkas post...If covered to $10,000 do you reckon they will take their time? To the accountants What are the idemnity limits on these types of insurances? What is included and excluded..what to...