Tax Risk Advisory Services 

If you feel as if your tax function is under siege, you’re not alone. Many corporate tax directors and CFOs find that increased workloads and responsibilities, limited resources, and compressed reporting cycles have posed some of the greatest challenges to their tax departments in recent memory. Sarbanes Oxley (SOX) 404 compliance and its Canadian equivalent are major contributors to these challenges.
Tax processes and risks are unique and require specific knowledge. Without proper review and monitoring, significant tax processes may contain material weaknesses that are not identified and mitigated. For both Canadian and SEC registrants, this may have significant repercussions if management cannot prove it has performed its own due diligence.

Most public companies in Canada should have recently certified the effectiveness of internal controls over financial reporting, which took effect for fiscal years ended on or after December 31, 2008. For many Canadian companies that are SEC registrants, these reporting rules were effective for fiscal years ended on or after July 15, 2006.

This preparation should include consideration of your company’s controls over all material tax risks. In the US, tax-related controls continue to be identified as one of the most common areas of reported deficiencies disclosed by management.

Dan Vance

Dan Vance

Ntl Leader - Cdn Corporate Tax

416-777-8017

Contact by e-mail

Meeting These Challenges


A Tax Risk Advisory Services team should help you meet your reporting obligations and “no surprises” requirement. They should work with you to identify your significant tax risks, document and evaluate your tax processes and controls, and recommend tax process enhancements to help mitigate tax risk.

Our multidisciplinary team includes practitioners from income tax, sales and indirect tax, transfer pricing, and customs and excise tax, along with professionals from our Audit and Advisory practices.

As well, our professionals have extensive experience in identifying tax risks and documenting and evaluating tax processes and controls in a wide range of industries. We have the ability to help you design an effective plan for meeting your obligations for reporting on internal controls over financial reporting, and identify ways to help mitigate tax risks and remediate any potential weaknesses in your tax-related and other financial controls.

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