Have you received a letter from the IRD about a review?
The IRD is putting increasing resources into investigation and review work. GST refunds are routinely reviewed and there are now specialist units investigating property transactions, the cash economy and the use of overseas credit cards. We regularly assist advisors and their clients in handling IRD reviews and audits. As part of that, we undertake a mock audit to identify potential issues that may be the subject of follow-up questioning by the IRD. During a review or audit, we work alongside advisors and their clients acting as their liaison with IRD investigators to manage the review and any issues that arise.