This software is designed to take the guesswork out of applying the ATO's guidelines on assessing the audit risk of professional clients (e.g., engineers, doctors, lawyers and accountants). 

Our Professional Risk Assessment Software ('PRAS'), has the following features: 

• It reflects the ATO’s strict compliance approach to professional practitioners that is outlined in PCG 2021/4;
• The software applies the three risk factors for professional clients to assess whether they are ‘high’, ‘medium’ or ‘low’ risk under the guidelines in PCG 2021/4;
• It allows for the application of the ‘transitional guidelines’ to be applied for eligible professional clients when assessing their audit risk profile;
• The software allows for an analysis of a professional client’s audit risk profile for the 2023 and 2024 income years; and
• It provides tailored letters notifying professional clients of their risk status under the guidelines or the ‘transitional guidelines’.

It has been re-designed in a user friendly menu-based format to make entering data for professional clients and undertaking the audit risk analysis, much easier.

Please also note that delegates to the NTAA’s Tax Schools Day 2 seminar will receive the PRAS (valued at $395) FREE when attending the seminar.

(*): This software is licensed to 5 installations and expires 30 June 2025. Additional licences can be purchased for only $99 each.