Accountants Versus ATO Super Computer

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Running Time: 6:16

Date: 01/12/2011

Increased activity by the ATO means tax audits are on the rise. Tax audit insurance can offset expenses often accrued by accountants during the time-consuming audit or review process.

The ATO's new 'super computer' has resulted in increased scrutiny of tax returns. This means accountants are spending more time responding to audit matters post-lodgement. According to Grant Keys, Director at Accountancy Insurance, this is time that's often unpaid or unrecovered. He says that a tax audit insurance policy can reimburse accountants for time spent responding to time-consuming audit matters.