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Audit Shield

Thursday, May 27th, 2021

No one wants to be audited and we have no reason to suspect you will be. However, even with 100% accuracy, accountants and their clients can still come under scrutiny by Inland Revenue (IR). It is for this reason that we provide our clients with the Audit Shield Master Policy.

What is the Audit Shield Master Policy?
Our Audit Shield Master Policy provides for the payment of professional fees, including specialists, incurred in the event that you are selected for an audit, enquiry, investigation, review or examination instigated by IR. The cost of being properly represented in these matters can be quite considerable depending on the length of time involved.

Even the simplest enquiry can require hours of work.

What is covered?
All professional fees up to a prescribed limit (with no excess) are covered when you engage us in audit activity matters. Our fees, legal fees, bookkeeping fees and other specialist professional advisor fees are covered. Our Audit Shield Master Policy also provides retrospective cover so all previously lodged returns are included in the coverage.

The list is extensive as to what is covered under our Audit Shield Master Policy. Income Tax, GST, PAYE, Fringe Benefits Tax, Employer Benefits, Dividend Withholding Tax and Resident Withholding Tax are just a few inclusions of the comprehensive offering.

Is it right for you?
All of our clients can take advantage of our Audit Shield Master Policy. Different levels of cover are available for salary/wage earners and businesses.

Anyone can be targeted, even if their lodgements are accurate. It is no reflection on the quality of work from your accountant. With this in mind, we offer you the opportunity to protect yourself with our Audit Shield Master Policy.

The top 5 reasons people choose to participate in the Audit Shield Master Policy:

  • Reputable provider – More than 3500 accounting firms across New Zealand, Australia and Canada trust Audit Shield, and offer it to their clients.
  • It is tax deductible – A bonus of our Audit Shield Master Policy is that you can add it to the list of your tax deductions each year if you are in business or are self-employed.
  • You are comprehensively covered – All of your current and previously lodged returns are covered by our Audit Shield Master Policy, even if you had another accountant taking care of your tax affairs in the past.
  • There are no unplanned fees – Where there are adjustments required to your lodged returns, our Audit Shield Master Policy will cover the cost of the professional fees, including specialists we may need to engage to assist us on your behalf.

It is simple – In order to be covered under our Audit Shield Master Policy, all you need to do is complete the Client Acceptance Form that we will send you OR contact our office and we can send you a quote.   As soon as payment is received, you are covered.

Please contact our office or get in touch with your usual DPA expert for any questions or further information.