While possible, professional assistance significantly reduces risks and ensures proper representation. Our expertise helps prevent common mistakes and minimizes potential penalties.
Yes, specific reports and reconciliations are required. Our team prepares all necessary documentation in the format required by FTA auditors.
The FTA can generally examine records up to 5 years back. However, in cases of suspected fraud, this period can be extended.
The duration varies based on complexity, but typically ranges from 2-8 weeks. Our involvement can help streamline the process and reduce the timeline.
We help negotiate settlements, explain discrepancies, and work to minimize any penalties. Our team assists in developing correction plans acceptable to both you and the FTA.
Audits can be triggered by various factors including size of business, industry sector, tax return discrepancies, random selection, or specific risk indicators identified by FTA.