The Tax Office may soon audit businesses at random

Companies could be in line for random audits as soon as next year under advice being considered by the Tax Office.

The plan, proposed by Australia’s counterparts in the UK and US, is said to provide more credible estimates of revenue.

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Continued growth of busy audit team

We are delighted to announce that Phillip Brown has come on board full-time with Synectic, having been working for the firm up to 2 days a week over the last couple of years. Phillip brings a wealth of knowledge in the audit of Self Managed Super Funds (SMSFs) and not-for-profit community organisations, as well as trust accounts and general accounting.

So if your organisation is not getting the attention it deserves from your existing auditor, get in touch with Phillip at our Launceston office, 99-103 George St, or phone 03 6337 6777.

Auditors: An SMSF essential

Auditors play a crucial role in the compliance regime of self managed superannuation funds (SMSFs). The legislation that governs the SMSF sector requires that accounts, statements and all compliance needs of an SMSF be audited every year by an “approved auditor”*.

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