Unfortunately, Revenue Audits have become a regular feature of our tax system. Whilst the actual number of Revenue Audits has decreased in recent years, Revenue’s efforts are now focussed on conducting audits and investigations where there is the greatest chance of errors. These can either be comprehensive audits, single tax head audits or straight forward verification checks.
With the use of its computer-based profiling system REAP (Risk, Evaluation, Analysis & Profiling) and additional information it can access from returns filed on other systems such as the Motor Registration Database, Revenue now has the tools it needs to take this targeted approach.
This therefore places greater importance on business owners and company directors to calculate and file its taxes correctly and on-time.
Pre-Audit Compliance Review
As the saying goes, prevention is better than cure. We offer a comprehensive Compliance Review service to businesses that want to take steps to reduce their risk of a Revenue Audit or investigation.
A Compliance Review is a special review carried out by our team of tax compliance experts to check whether your company has calculated and filed its taxes correctly in accordance with Revenue’s regulations.
In our Compliance Review we take a detailed look at your company’s:
- Sales and purchase invoices to ensure you are returning VAT at the correct rate;
- Net wages records to ensure that you are filling accurate P35 returns;
- Bank lodgements to check VAT on sales;
- And, for companies using computerised accounting and bookkeeping systems, we use our E-Audit software to check that you are using the correct VAT rate on all transactions.
Our Compliance Review provides business owners and company directors with the opportunity to deal with any non-compliance issues with Revenue sooner rather than later.
Revenue Audits & Investigations
If you are selected for an audit or investigation, it is vital that you seek professional advice before engaging with the Revenue as well as during and after. At DBASS, our tax consultants have significant experience in guiding businesses through the Revenue Audit and investigation process.
We can support you by:
- Carrying out a detailed compliance review in advance of the audit or inspection to identify any compliance issues.
- Preparing you for the interview with the Revenue Commissioners.
- Providing meeting facilities and attending the meeting to assist you with any queries.
- Liaise with the Revenue on your behalf to minimise fines, penalties or prosecution.
Forensics & Data Analysis
We offer a comprehensive forensic accounting service which is provided to our clients in the event of them requiring assistance with corporate or personal investigations or disputes.
Our highly experienced team offer the benefit of their extensive experience to assist our clients with the following:
- Forensic Accounting: Supporting our clients in relation to suspected or proved corporate fraud
- Litigation Support Services: Preparation of reports, business valuations, analysis and opinion to support litigation cases, as requested by legal advisors.
- Expert Witness Service: Provision, where requested of oral testimony or written report made based on our qualifications and extensive experience.
- Dispute Resolution Service: Working with our clients to develop workable agreements in relation to their financial situation, in the event of Arbitration or Mediation.