ASMA Accounting Launches Audit‑Readiness Service as IRD Steps Up Compliance Checks

ASMA Accounting – Chartered Accountants

ASMA Accounting has launched a new Audit‑Readiness and IRD Compliance Support service in response to Inland Revenue’s increasing use of targeted “compliance check” letters and data‑matching to review business and trust returns. These checks can be the first step before a full audit and often arrive with tight response deadlines.

Guidance from New Zealand tax and accounting specialists shows that the IRD is using richer data from income tax, GST, payroll and trust disclosures to identify inconsistencies and unusual patterns more quickly. While many letters can be resolved without escalation, poor records or delayed responses may increase the risk of a formal audit.

Turning audit risk into audit readiness

“For a lot of small and medium‑sized businesses, the first contact from IRD can be worrying – especially if they have not kept records as tidy as they would like,” said a spokesperson for ASMA Accounting. “Our aim is to move clients from reacting under pressure to being confidently audit‑ready before any letter arrives.”

The new service helps clients:

• Review recent income tax, GST and payroll returns to spot obvious inconsistencies or gaps.
• Assess documentation – invoices, bank reconciliations, contracts and support for key balances – against IRD expectations.
• Identify common triggers such as sharp changes in income, margins or drawings that may attract questions.
• Prepare clear explanations and supporting documents in advance so responses are fast and complete if IRD contacts them.

Special focus on trusts and family groups

The service also covers trusts, which now face higher disclosure requirements and a 39% trustee tax rate on retained income, increasing the importance of accurate reporting, resolutions and record‑keeping. ASMA Accounting assists trustees to confirm their structures remain fit‑for‑purpose and compliant.

“We combine our audit experience with our knowledge of how IRD runs its compliance checks,” the spokesperson added. “That means we are not just ticking boxes – we are helping clients organise their records and narrative in a way that makes sense to reviewers.”