• Better practice 2: documentation checklist

    Maintaining records that include the following documentation will help ensure that an entity has an adequate internal control environment in relation to FBT administration.

    Documentation

    Available
    (Y/N)

    Allocation of FBT responsibilities

     

    Records of all FBT transactions

     

    FBT procedures specific to the needs of particular work groups in the entity

     

    Internally prepared tax position papers

     

    Records of advice and discussions with the ATO and tax advisors

     

    Training needs analysis

     

      Last modified: 23 Jul 2015QC 18627