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Driving Tax Performance – KPMG’s Framework for Managing Tax Risk 

In our role as auditors and tax advisers for many public companies, KPMG is well suited to help boards, audit committees, finance executives, and tax directors work together to develop and implement a board-approved strategy for managing tax risk in the context of the company’s overall business objectives.

 

KPMG International's findings in Good, Better, Best and earlier studies have identified leading practices used by companies to deliver day-to-day compliance and reporting effectively and efficiently while focusing on the right balance between managing tax risk and creating value. The result is Driving Tax Performance, our framework for driving business value through the tax function.

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To help companies achieve and maintain this balance, the Driving Tax Performance framework comprises the following building blocks:

 

  • Common purpose.
    Aligning the strategic goals and objectives of the tax function with those of the wider organization.
  • Embedded processes.
    Making the tax management strategy operational in a way that can be monitored and sustained over the long term.
  • Timely and accurate information.
    Producing, exchanging, and distributing data to the right people, at the right time, and in the right format.
  • One view of performance.
    Monitoring effective tax management by clarifying what is required and  how performance is measured, through agreed upon key performance indicators (KPI).
  • Influencing stakeholders.
    Understanding by tax functions of the goals and constraints of stakeholders and communicating with them effectively to help achieve their goals.
  • Enabling technologies.
    Automating labour-intensive processes that consume resources and increase risk through the use of enabling technologies (e.g., enterprise resource planning systems, tax software).
  • High-performing teams.
    Ensuring the tax function comprises the right number of tax professionals with the right mix of training, skills and experience.

 

Using the Driving Tax Performance framework, your KPMG Tax adviser can help you assess your current performance and develop a comprehensive plan for improvement.