Accountancy Insurance

Audit Shield — PRATT Partners Service Offering

The ATO and other government revenue bodies are increasing the number of reviews, audits, investigations and enquiries they undertake. Much of this activity is driven by data-matching and automated systems and can occur even where obligations have been met accurately and on time.

In response, PRATT Partners offers Audit Shield, an optional service designed to remove the financial uncertainty associated with audit activity.

Audit Shield covers PRATT Partners’ professional fees incurred in responding to an audit, enquiry, investigation, review or examination of lodged returns or financial compliance obligations initiated by the ATO or other government authorities (e.g. State Revenue Offices, WorkCover).

Key features include:

Cover for PRATT Partners’ accounting fees
Cover for external specialists (e.g. taxation lawyers or consultants) engaged or instructed by us
Retrospective cover for previously lodged returns (including returns not prepared by PRATT Partners)
One annual fee covering all entities (SMSFs covered separately)
Participation is optional.

Audit Shield is supported through Accountancy Insurance, a specialist provider of Tax Audit Insurance.

Further details will be issued by email in the coming weeks.

Clients are encouraged to contact our office upon receipt to discuss suitability.