Obama Administration International Tax Proposals Update
Tax accounting
The practice of tax is becoming more demanding, driven by a fast-evolving regulatory environment, cost pressures and investor scrutiny, as well as the hardening of tax authority and auditor attitudes. This new environment presents new challenges for boards, finance directors and tax directors. High on their list is the need to assess the adequacy of the yearend tax reporting process.
Our tax accounting services have been developed to meet the demands of this new and more exacting era for tax reporting. We are helping an increasing number of organisations to respond to the new, more wide ranging environment. We believe that over the next 6 – 18 months, the modern tax department will need to act on developing modern systems to support effective reporting; consider the effect of the evolution and convergence of IFRS and US GAAP on tax accounting; moving to a more substantive quarterly tax management reporting process; and understanding the historic tax accounting position to ensure quality of ongoing tax balances.
