#Audit
Why it makes sense to audit your business processes
The task of process auditing can deliver benefits across an organisation, improving productivity, lowering operational costs and more…
Saying goodbye to Henry Ford: seven areas where you could modernise your business
In decades gone by, businesses sometimes set the trends for society. Fast forward to today where things move so fast that businesses are having to catch up with society. Even though most CEOs would not want to admit it, their organisations probably still look and operate far too much like a system designed for Henry Ford’s […]
Look before you leap: picking a cloud provider
The cloud is rapidly becoming a primary IT infrastructure for growing numbers of organisations. Attracted by the promise of improved flexibility and reduced costs, many businesses are shifting core systems and processes to cloud-based platforms. It’s not enough to simply trust that a cloud provider will keep your company’s data secure. It’s important to thoroughly […]
Making friends with your tax audit: What can it teach us?
“Embrace your tax audit” are the last words you’d expect to drop from the lips of a financial advisor, but that’s exactly what the head bean-counter from First Class Accounts is asking us to do. Clive Barrett, Executive Chairman of First Class Accounts, said the very idea of a tax audit struck fear into the […]
400 businesses in Melbourne and Perth to be audited by FWO
250 businesses in Melbourne’s Dandenong region will be audited by the Fair Work Ombudsman as part of a new campaign to check that employers are paying the correct minimum hourly rates, penalty rates, allowances, loadings and providing appropriate meal breaks. Fair Work Ombudsman Natalie James says the Dandenong region is home to thousands of businesses […]
Make this new financial year your best in business
With the end of financial year just around the corner, it’s a great time to consider the results for this year and what you want to achieve next year.
Ten ways to trigger an ATO audit
As the end of financial year approaches, the Australian Taxation Office (ATO) is expected to data-match over 640 million transactions to tax returns this year.
Festive entertainment – will the ATO help out?
The common question we’re asked by many clients is, “how much of client Christmas entertainment can I claim as an income tax deduction?”
Take-away and fitness industry franchisors set for audit
The ACCC has announced that franchisors in the take-away food and fitness industries will be audited to ensure compliance with the Franchising Code of Conduct.
ATO targets small business in 2013 campaign
Each year the Australian Taxation office targets key sectors of Australian business for audit campaigns – in its Compliance in Focus 2013 notice, small businesses are among those to have drawn the short straw.
How to survive a tax audit
Does the thought of a tax audit make you break out in a cold sweat?
20% of Aussie businesses ignore broke creditors
Many Australian businesses are not protecting themselves against the risk their customers might go insolvent, according to a joint survey by the Institute of Internal Auditors – Australia (IIA) and credit insurer, Atradius.
Teachers and engineers caught in tax office crackdown
The Australian Tax Office (ATO) has teachers, engineers and mechanics in its sights this year, advising that it plans to audit large claims from these professions for the 2009-2010 financial year.
SBR software reduces chance of audit
Australian businesses can reduce the chance of an audit by adopting new online accounting software under the Government’s new Standard Business Reporting (SBR) initiative.