Audit Shield is renowned in the accountancy industry for providing comprehensive protection to accountants and their clients. In fact, Audit Shield currently pays more than $1 million per month in claims to cover the professional fees associated with audit activity. This is evidence that audit activity is prevalent and Audit Shield is an effective mechanism in alleviating the financial effects.
The tax audit insurance offering covers the professional fees that help you, as an accountant, assist your client to respond to an audit, inquiry, investigation, review or examination of returns lodged with the Australian Taxation Office (ATO) or other government revenue authorities. Thousands of accounting firms across Australia, New Zealand and Canada trust Audit Shield, and are receiving the benefits of extending the offer to their individual, business and SMSF clients.
Audit Shield provides comprehensive, cost effective protection against the substantial costs that may be incurred should the ATO or other government revenue authorities conduct an audit, inquiry, investigation, review or examination of lodged returns or financial compliance obligations.
The kind of audits and reviews typically covered by the policy include:
- BAS/GST Compliance
- FBT
- Income, Land and Payroll Tax
- Record Keeping
- Self-Managed Superannuation Funds
- Superannuation Guarantee and Compliance
- Workers Compensation / WorkCover
- Any query of any lodged return where the client is compelled to respond or act**
Did you know…
Two thirds of Audit Shield clients who responded to a survey gave a rating of 9 or 10 when asked about the likelihood of recommending Accountancy Insurance other accounting firms*.
* Based on Accountancy Insurance’s Client Perception Survey 2023.
** Subject to the terms and conditions of the policy. Information about our tax audit insurance policy cover is provided on the Policy Cover page.
Contact Accountancy Insurance to learn more about how Accountancy Insurance can help you to implement Audit Shield (tax audit insurance) into your practice. One of our team members will be in touch promptly to discuss your needs and tailor a tax audit insurance solution for you.