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 Accountancy Insurance is now operating in New Zealand. The business officially opened its new office in Auckland CBD on August 1st, having spent the previous 12 months getting to know the market and its particular needs.

"We are excited to be launching our Audit Shield product in New Zealand, having spent the last 12 months in the planning phase. It has been really encouraging to meet a range of dynamic New Zealand firms over recent months, many of whom are actively interested in offering wider services to their clients", reported Managing Director Pat Driscoll.

Audit Shield is the clear market leader in Australia. Now in New Zealand thanks to the expertise and experience of DLA Phillip Fox and VERO New Zealand Ltd, Accountancy Insurance is pleased to offer a specially tailored Tax Audit Insurance product that is both fully compliant with recently introduced legislation and locally underwritten. If initial interest is anything to go by, then demand will be strong.

"Audit Shield is attractive to a wide range of accountants’ clients," continued Driscoll. "It reduces the level of stress and worry for both clients and accountants, with an audit, review or investigation."

The launch of Audit Shield is timely, given the Inland Revenue Department (IRD)’s continued focus on compliance. Particular industries in which the IRD has highlighted recent audit activity include the café and restaurant sector and horticulture.

In 2010, the IRD was given additional funding to detect and take action against those who choose to operate in the hidden economy. To that end, the IRD has declared the hidden economy will again be a particular focus for the 2011-2012 financial year.

The AI Auckland office is staffed by account managers Bahadur Kaikobadi and Sharon Smith, both of whom have a strong background in customer service, having over 15 years' combined experience in the banking and finance industry.

The Auckland staff will be joined regularly by directors Pat Driscoll, Grant Keys and Ferdy Ouw, all of whom will be spending significant time in NZ as the business grows aggressively in coming months.

"We are excited to be in New Zealand, and we are looking forward to building strong partnerships with key accounting practices across both the North and South Islands."

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