Why we strongly recommend Audit Shield Insurance this year

In recent months, we’ve seen a significant increase in audit activity from the Australian Taxation Office (ATO) and other government agencies. With compliance reviews and audits becoming more frequent and detailed, now more than ever, it’s important to ensure you’re protected against the potential costs involved.

That’s why we’re highly recommending that all our clients consider taking out Audit Shield Insurance.

Audit Shield Insurance provides peace of mind by covering the professional fees that may arise if your business or personal tax affairs are subjected to an audit, enquiry, investigation, or review. These processes can be time consuming and costly even if your records are completely accurate and up to date.

Given the increased focus on data matching, targeted industry reviews, and stricter compliance measures, the likelihood of being audited has risen significantly this year. Audit Shield ensures that should this occur, you won’t be left with unexpected expenses for the time and work required to manage the audit on your behalf.

If you haven’t already taken out Audit Shield Insurance, we strongly encourage you to do so. It’s a small investment for significant peace of mind and financial protection. Please note that reminders regarding Audit Shield Insurance will be sent out again within the next couple of weeks, so keep an eye out for further communication.

For more information or to arrange cover, please contact our office — we’ll be happy to guide you through the process.