The Australian Taxation Office (ATO) continually searches for tax revenue, changes their requirements, and increases their enforcement efforts. Consequently, more businesses face audits, investigations, or review. Now, more than ever, it is important to have accountancy professionals by your side to protect your interests. The ATO usually orders an audit when they identify a compliance risk when they review your company’s financials. However, they also conduct random audits so it’s important to always prepare.
Fortunately, dnm group provides full service accounting, including support when you need it. We routinely work with the ATO and other government agencies, understand their processes and requirements, and speak their language.
Using our professional accounting services and advice can significantly reduce your chances of an audit, because we know tax law, provide proper documentation, lodge documents promptly, and maintain historical documents. ATO investigations can be very invasive. Weathering an audit without professional accounting support is time-consuming, complex, and you may not have the knowledge you need to protect your interests.
If the ATO plans to audit your books, we can act as your representative. We ensure the auditor follows the proper protocols, applies the relevant tax laws, and follows the correct administrative practices for your region. We explain what the ATO wants from you and why they want to look at it.
Once they complete their audit, they describe their proposed adjustments or penalties. dnm group will investigate these adjustments and work to reduce or eliminate the penalties. We also establish best practices to avoid future problems.