Why is Audit Shield different from other tax audit insurance offerings?
Tax audit insurance is more than just another insurance policy. It can be complex to understand, complex to implement and complex to administer. Only Accountancy Insurance has made the significant investment in people, processes and systems to make sure that Audit Shield delivers for you and your clients.
Will it cost me anything to implement Audit Shield in my firm?
No. Each of our Audit Shield client firms enjoys the services of a dedicated Account Manager. They will assist you with the set up and implementation of Audit Shield, including the creation of a comprehensive client mail out to facilitate the offer to your clients. Access to our Audit Shield Online Portal (ASOP) platform is also provided to ensure ongoing administration is simple and effective.
How do I make a claim for my clients?
It’s easy! Simply submit the claim using the Audit Shield Online Portal (ASOP) platform. Once the audit activity has been finalised, provide us with the audit correspondence from the relevant government revenue authority, your Tax Invoice and a copy of your WIP, and, subject to claim approval, we’ll have payment to you typically within 7-14 days.
Will I be able to claim all my professional time?
Yes. The professional fees you would normally charge your client to coordinate the audit activity response are covered (up to a prescribed limit, and subject to the terms and conditions of the policy).
So what isn't covered?
Fees not directly related to the audit activity response, or those exceeding the prescribed limit, are not covered. See the Policy Cover page for further detail or contact us for full policy details of the Audit Shield Master Policy.
To learn more about how Accountancy Insurance can help you to implement Audit Shield in your firm, contact us. We will be in touch promptly to discuss your needs and tailor an insurance solution for your clients.