The ATO Is Thinking About Letting Companies Appoint Their Own Tax Auditors

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The ATO is considering a plan to outsource tax audits to professional services firms such as PwC, Deloitte, Ernst & Young and KPMG.

The Australian Financial Review says it has obtained an internal memo which says the idea is being considered, and would make the process more efficient.

Firms would check companies taxes for mistakes, saving the ATO — which is affected by a government plan to cut 12,000 public service jobs — from wasting money.

Talks with the big four accounting firms to discuss the proposed idea are expected to begin next week.

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