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Audit Protection Service FAQs

What is the Audit Protection Service?

Audit Protection Service provides for the payment of professional fees otherwise payable by you when incurred as a result of this firm being required to respond, on your behalf, to an audit, review, or investigation by the ATO or other Government authority. It provides our clients with a fixed, cost effective solution to guard against unbudgeted professional fees, which may be incurred as a result of such an audit, review, or investigation.

Will my accounting fees be covered in the event of an audit, review, or investigation?

Yes. Normal fees associated with any usual work carried out throughout the year are excluded, but any additional costs, which is related to attending to an audit, review, or investigation by the ATO, or any other Government authorities will ordinarily be covered up to the specified limit. The cost of these additional audit fees can be considerable depending on the length of time involved to properly attend to an audit.

The specified limit of fees you are covered for is outlined in your Client Acceptance Form in the “Level of Cover” section.

What audits, reviews and investigations are included?
  • Income Tax
  • Business Activity Statements & Instalment Activity Statements (including GST & PAYG Withholding Tax) Fringe Benefits Tax
  • Payroll Tax
  • Workcover / Workers Compensation
  • Self Managed Superannuation Funds (cover available separately)
  • Superannuation Guarantee Charge
  • Cashflow Boost for Employers, and JobKeeper Payments
What is the benefit of the Audit Protection Service?

If you are faced with an audit, review or investigation of lodged returns, your professional fees incurred should ordinarily be covered up the specified limit.

The specified limit of fees you are covered for is outlined in your Client Acceptance Form in the “Level of Cover” section.

Who are covered / related entities?

The names of the entities and individuals covered are listed on your Audit Protection Service Client Acceptance Form. It is very important that you review the names listed on this form to ensure that it covers all the individuals and entities (excluding superannuation funds that are required to be covered separately) associated with you and your immediate family.

Any entities or individuals not included on this list will not be covered by the Audit Protection Service.

Please contact our office if you believe the name of an entity or individual is missing from your list so we can add this name.

What professional fees are included?

Fees up to the specified limit, normally payable by you to Lambourne Partners or another professional service provider up to the completion of the audit, review, or investigation.

The specified limit of fees you are covered for is outlined in your Client Acceptance Form in the “Level of Cover” section.

Is the cost tax deductible?

Yes, a tax deduction will be claimable for your participation fees.

As part of our Audit Protection Service, we remind our clients that such items are not covered as listed below:

  • Audits, reviews, or investigations where notification was given prior to your confirmation of participation in the Audit Protection Service.
  • Punitive costs such as penalty tax, costs, interests, or any fines.
  • If the auditor imposes final culpability penalties.
  • Failure to produce documentation or furnish information to the ATO or government authority.
  • Costs for work incurred which should have been done prior to the audit, review or investigation taking place.
  • Mass Marketed Schemes without a product ruling.
  • Individuals or entities who are not clients of Lambourne Partners at the date that notification of the audit, investigation, or review was notified.