EY - Best practices for managing operational tax risk

EY International Tax Webcast

Best practices for managing operational tax risk

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Increased reputational, legislative and enforcement risk are putting additional pressure on tax resources, processes and technology for businesses large and small.

Every company has to deal with operational tax risk. Few do so with absolute certainty or complete confidence in a fast-changing landscape.

In the second report of our 2014 Tax Risk and Controversy Survey series, we highlight sources of operational risk and describe leading practices companies may want to institute to help achieve regulatory compliance while driving business performance.

Join our panel of professionals as we discuss key findings and drivers of increased operational risk:

  • 68% of survey respondents say there are insufficient resources to cover tax function activities
  • 62% of the largest companies surveyed have either created or refreshed their tax risk policy in the last two years
  • Only 25% of companies say their internal controls are documented in all jurisdictions, regardless of whether or not it is required by regulators
  • Only 19% of respondents use dedicated software tools to enable and support Notice Information/Data Request and Tax Audit Management. The remainder use email, spreadsheets or no technology at all

How does your company compare? To find out, register for our webcast.

 

Panelists:

Albert Lee

Ernst & Young, Hong Kong

 

Patrick Trapp

Ernst & Young LLP (UK)

Patrick Trapp leads the EY Tax Performance Advisory business in EMEIA. He leads tax transformation engagements with focus on the value and quality of tax data in financial systems, efficiencies with tax-related technology, effective and controlled processes, and responsive operating models and metrics. Patrick has more than 20 years’ experience providing tax services to major multinational manufacturing, services, energy, utility, financial services and retail companies, including roles as tax services coordinator, industry tax partner and tax operations advisor

Gary Paice

Ernst & Young LLP (US)

Gary Paice leads EY’s Tax Performance Advisory (TPA) group in the Americas, focused on the performance enhancement of tax functions. TPA is recognized by the market as a leader in delivering tax department reengineering/process redesign services. TPA provides an array of tax function services to improve the operating performance of corporate tax departments including: tax function assessments, tax provision process redesign, SOX 404 documentation and advisory services, data improvement and information access, document management and record retention, tax function merger integration, organizational design, change management and project management services.

Gary has more than 30 years of experience working with companies to address people, process and technology issues within their corporate tax department.

Moderator:

Rob Thomas

Ernst & Young LLP (US)

Rob Thomas is a Director in Ernst & Young LLP’s Washington, DC office. Rob is the contributing editor of EY’s Tax Policy and Controversy Quarterly briefing publication. He has 20 years of experience in the United Kingdom, Singapore, Australia and the United States. Rob assists multinational companies with understanding the tax and enforcement landscape in the key jurisdictions in which they operate. Prior to moving to Washington, DC, Rob was the Global Tax Knowledge Leader for Ernst & Young between 2005 and 2010, where he was responsible for knowledge management strategy and execution of the global tax practice.