It's possible to take out insurance to cover the cost of any government audit. The cost of complying with an audit can be quite high. Generally your Accountant will incur many hours in compiling the required information in meeting the government department's requests.
Audits, reviews and investigations may be conducted in many areas including Income Tax, Land Tax, Payroll Tax, GST, FBT, Work Cover, and Superannuation Guarantee amongst others.
We offer audit insurance via Audit Shield. For information on Audit Shield please contact our office.