Tax Management Consulting: Income Tax Systems and Tax Accounting Services
Experience in tax and technology to help you operate more efficiently
Income tax provision reporting requirements have become more complex as tax departments work to comply with tax accounting standards under accounting principles generally accepted in the United States (U.S. GAAP) and International Financial Reporting Standards (IFRS). This complexity has been compounded by closer examination and inspection of tax accounting by corporate stakeholders, external auditors, and regulators. The income tax provision area has been cited as the underlying cause of a large percentage of reported material weaknesses.
In addition, tax compliance work continues to absorb a large percentage of resource budgets and often does not allow tax department personnel time to perform tax planning, transactional analysis, and other tasks that could bring tax savings and efficiencies to the company. Further, forecasting the effective tax rate and budgeting cash flow as it relates to taxes have become a more pronounced part of every company’s tax life cycle.
Helping companies analyze and improve their tax data, processes, and technology is the core of what we do in our Tax Management Consulting practice. Our tax systems and tax accounting teams have the knowledge, skills, and resources to assist today’s tax departments in their efforts to operate more efficiently and to better address current regulatory challenges.
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