The Accountancy Insurance Claims Department continues to be busy processing Audit Shield claims from client accounting firms across Australia. The five most common audit activity areas 1 July 2023 – 31 December 2023 were:
> Income Tax (WRE)
> Payroll Tax (All States)
> BAS (Pre & Post Assessment)
> Employer Obligations (PAYG/SG/FBT)
> Income Tax (Full/ General/Combined)
The below pie chart shows the distribution of Audit Shield claims activity in Australia*.
*Correct as at January 2024.