Our services help enable you to respond to the demands of this dynamic environment and deliver accurate and efficient tax reporting.
What's on your Mind?
- Ensuring tax figures are materially correct after a business reorganisation.
- Manual processes for tax reporting are being stretched due to increased demands and tighter reporting deadlines.
- Understanding the current and deferred tax implications of changes to accounting standards, both tax and non-tax standards.
- Lack of internal specialist knowledge of tax accounting requirements, for example, preparing US GAAP tax calculations.
- Ensuring processes and controls provide the necessary comfort to sign the Senior Accounting officer certificate.
Bringing you Peace of Mind
We have technical specialists with practical experience in most areas of tax accounting, combining with technology specialists where appropriate, to provide complete process reviews and implementation. This includes:
- Automating reporting and disclosures
- Enhancing existing systems and process to give increased functionality and accuracy
- Undertaking a health check of the tax accounting function and process with recommendations for improvement, including assistance with regard to Senior Accounting Officer certification
- Providing advice and technical tax accounting training to both tax and finance functions
- Providing subject matter specialism to an Internal Audit function
- Preparing the tax numbers and disclosures for management
What's in it for you?
- Increased assurance over the reported tax figures and associated disclosures.
- Increased assurance over systems relevant for Senior Accounting Officer certification.
- Efficiency gains in the reporting process, enabling the tax function to spend increased time on value added opportunities.
- Deeper tax accounting skills in the tax function to support the tax reporting process.
- Opportunity to outsource tax reporting where insufficient in-house experience.
- Support in selecting and implementing tax reporting technology.
- We provide Audit and Accounting Related Tax Services to 34 percent of the FTSE 100 companies.
- Over 100 tax accounting professionals in the UK with extensive practical experience of undertaking tax accounting and reporting assignments covering all business sectors.
- Global Network of local specialists.
A global business had issues associated with inconsistent timing and quality of tax reporting from subsidiaries and minimal visibility of overseas tax profiles and risks.
KPMG worked with the business to help define their specific reporting requirements by tailoring our technology, Tax Reporting Cube, to the specific needs of the business, which provided seamless integration with their general ledgers.
- Automation of entire process from data collection to global management of high level risk areas to accounting disclosure notes
- Robust framework for capturing permanent and temporary differences
- Audit trail and drill down reporting
- Tax function now spending time reviewing, understanding and planning