There are several tax audit insurance firms in Australia. Each of these firms put their best foot forward to encourage potential clients. However, there are certain qualifications that you should look for in a tax audit insurance company. Remember that tax audits can be instigated by the Australian Taxation Office (ATO) so you need to be sure that the audit insurance company where you will opt in for a service is reliable and expert in the field. Here are additional qualifications that you should check from an audit insurance company:
With a good number of clients
If a tax audit insurance provider has a long list of ensured clientele, this means that they are trusted in the industry and this should be taken as a positive indication. Take a look at the number of accounting firms that utilize the service including the number of individuals who opted in for a service in the company. You should also choose a company with a wider area of coverage and operating not just in Australia but in other countries such as Canada and New Zealand as well.
Length of business operation
Choose a tax audit insurance company that has been operating in the industry for a good number of years. Trust company who has been providing accounting related services including audit insurance for more than 10 years. Anything lower than that may lack experience in the industry and may not be able to provide the quality of service you deserve.
Positive feedback from clients
Lastly, you should only entrust your tax audit insurance coverage from a company that is not only trusted by more clients, it should also get positive feedback as a manifestation of this trust. Check the website of the tax audit insurance company and read what its clients have to say about the type of service they receive from the latter. You can also check independent sites such as discussion boards and forums to know more about the tax audit insurance company that you are seriously considering. It only pays a good research to get to the right service provider.