Due diligence and risk assessment: Introduction
When looking at the due diligence / risk assessment carried out by the taxable person you should determine and document:
- what due diligence / risk assessment checks were performed;
- what the results of the checks indicated;
- what purpose he believed the checks served;
- to what extent they were appropriate, adequate and timely in relation to addressing the risks identified; and
- whether the taxable person took appropriate action in response to the results of the checks (VATF74000).