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Mans Best Friend - The Revenue!

  • 11-04-2014 8:30pm
    #1
    ClickityClick
    Registered Users, Registered Users 2 Posts: 73 ✭✭


    My friend is expecting the revenue for an audit next week and is fairly in a stew about it. Does anybody know if his personal bank accounts can be requested when it's an audit of the company


Comments

  • #2
    relax carry on
    Registered Users, Registered Users 2 Posts: 4,113 ✭✭✭relax carry on


    ClickityClick wrote: »
    My friend is expecting the revenue for an audit next week and is fairly in a stew about it. Does anybody know if his personal bank accounts can be requested when it's an audit of the company

    Is he a propriety director of the company (owns more than 15%)? And has he being claiming expenses through the company into his personal bank account(s)? If so then they may ask to see them. The link below is Revenues guide to audits. If there is anything he is unsure about he should really be addressing his concerns with his accountant.

    http://www.revenue.ie/en/practitioner/audit-code-of-practice/index.html


  • #3
    ClickityClick
    Registered Users, Registered Users 2 Posts: 73 ✭✭ClickityClick


    Thanks for reply, relax carry on, he's a propriety director but has never claimed expenses. Can they still request his personal account?


  • #4
    relax carry on
    Registered Users, Registered Users 2 Posts: 4,113 ✭✭✭relax carry on


    ClickityClick wrote: »
    Thanks for reply, relax carry on, he's a propriety director but has never claimed expenses. Can they still request his personal account?

    Can't see why they would need them unless there is evidence in the company accounts of money being transferred to him that isn't his salary. At the end of the day if they want to see them and he doesn't supply them, they may just open another audit on your friend in his own right. Is there a reason why he is so worried about his personal bank accounts being viewed? Again he really should talk to his accountant if he believes there may be something he needs to disclose.


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