What Auditors Look For
• VAT invoices and reconciliations.
• Bank statements and ledgers.
• Payroll and WPS records.
• Contracts supporting tax returns.
Steps to Prepare
1. Keep invoices and ledgers up to date.
2. Conduct internal reviews quarterly.
3. Respond to FTA notices promptly.
4. Retain documents for at least five years.
Why It Matters
Audits are not just about penalties. They are about credibility. Companies with clean records gain trust with regulators, banks, and investors.
Conclusion
Preparation reduces risk. By maintaining strong records and working with consultants, SMEs can face audits with confidence.