Posts tagged "audit"

Tens of millions of dollars in emergency COVID-19 grants were paid to Victorian small businesses in error, including $18.3 million towards businesses the state government considered a heightened fraud risk, according to a scathing assessment from the Victorian Auditor-General's Office.

Dodgy businesses should be concerned about a review, but legitimate businesses also shouldn’t get complacent about facing a possible audit.

The small business tax gap eclipsed $11 billion in 2015-16, so the tax office is stepping up efforts to curb black economy activity.

Afterpay is being audited over its compliance with money laundering and terrorism finance laws, AUSTRAC has said in a statement.

The federal government has unveiled ASIC red tape reductions that will save about 2200 SMEs almost $37,000 each year by removing reporting requirements.

The ATO has this week announced a widespread random crackdown on millions of Australian taxpayers after a tax gap of over $8.7 billion was uncovered.

  Almost 60% of reported contraventions by self-managed super funds involve illegal related-party transactions between a fund and its membe…

The Fair Work Ombudsman has announced its crackdown on childcare centres will commence in October, with the number of businesses to be audit…

CPA Australia has expressed concern following claims of a “tick and flick” approach to audit decisions by the Australian Taxation Office. …

Accountancy firm BDO has acquired PKF East Coast Practice and there are more acquisitions on the agenda, with rumours of Moore Stephens also…

The Australian Taxation Office is cracking down on wealthy individuals with letters sent requesting information regarding details about priv…

Tax audits have been a long-time feature of the tax landscape in Australia. For SMEs, they can be a costly “intrusion” into the running of t…