Auditing the ATO

THETax and Revenue Committee will meet today with the Australian National Audit Office (ANAO) at a public hearing for the inquiry into taxpayer engagement with Australia’s taxation system.

Committee Chair Mr Kevin Hogan MP said the ANAO conducts audits of all Commonwealth entities, companies and their subsidiaries. 

“The Auditor-General not only ensures that each agency’s financial statements fairly reflect the entity’s operation and financial position, but it also reviews the entity’s governance structures for internal audit and fraud control”, Mr Hogan said.

At the hearing, the acting Deputy Auditor-General and staff will discuss forthcoming audits and the results of recent ANAO evaluations of the Australian Taxation Office’s capabilities and strategies to reduce the cash economy and its administration of the Superannuation Guarantee.

Mr Hogan said that, in the wake of a major tax fraud being investigated by the ATO and Australian Federal Police, the Committee will also consider the robustness of ATO regulatory powers and practices to identify black economy traders and collect revenue due as payments systems go electronic.

“The Committee will be keen to hear ANAO opinions about the effectiveness of the ATO’s risk management frameworks for identifying non-compliance, and the challenges posed by the proliferation of digital payment platforms offering global real-time 24/7 payment transfers, not offered by banks”, Mr Hogan said.

Public Hearing details: 4:15pm – 5:30pm, Wednesday 24 May, Committee Room 1R2, Parliament House, Canberra

The hearing will be broadcast live at aph.gov.au/live

Interested members of the public may wish to track the committee via the website. 

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