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To survive a SARS audit, think like an auditor

by , 20 August 2014
When SARS audits your business, an auditor will go through every book and record to ensure you didn't leave anything out or make a mistake. He's got a process he follows to check each and every record carefully.

So how do you beat this record checking audit machine?

Simple! You become one yourself.

If you want to pass your SARS audit with flying colours you need to think and look at your business records the same way the SARS auditor will.

Here's how...

 

Here's how to look at your business records like a SARS auditor

 
The first thing you must do to beat that SARS auditor is get a copy of the How to survive a SARS tax audit guide. It has all the steps a SARS auditor will take when he assess your tax compliance.
 
Once you have your copy out, select a record type to assess. Get out all the records you need and follow each step that the auditor will take.
 
You must think like an auditor when you do this. If you spot even a small mistake you must investigate it and rectify it. 
 
You see, you may know that mistake doesn't mean anything, but an auditor will see that mistake as a possible incongruence in your tax compliance. 
 
But don't just do this once.
 
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Here's how often you must assess your business like a SARS auditor

 
You can't tell when SARS will audit you so you must always be prepared for when it does. This is why you should do an audit on your company's finances at least once a year. 
 
This will help you ensure that each year's financial statements are up-to-date and audit proof. 
 
If you do this, when the actual audit happens, you can rest assured your company will pass with flying colours.
 

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