Tax Accounting and Risk Advisory Services

Today’s business and tax environment is increasingly complex, there are more and more demands for transparency, tax departments are under pressure to be more effective and highly qualified professionals can be hard to obtain.

To help you respond to these demands, we provide assistance in three key areas:

Tax accounting: supporting quarterly and annual tax provision calculations, validating tax balance sheet accounts and implementing new accounting standards under IFRS and/or local GAAP
Tax function performance: improving operating strategy and organization design, tax process and controls, and data and systems effectiveness
Tax risk: identifying and prioritizing key risks and assisting with controls monitoring and remediation

The scope and nature of our services may differ depending on whether you are an auditor non-audit client. What’s consistent is the high-quality service our professionals provide to address your unique needs, throughout the entire tax life cycle of planning, provision, compliance and working with the tax authorities.

Our talented people, consistent global methodologies and tools and unwavering commitment to quality service will help you build strong compliance and reporting foundations, sustainable organizational strategies and effective risk management protocols, helping your business achieve its potential. It’s how Ernst & Young makes a difference.

Spotlight on tax losses

This article by Charles Chaho, published in the July 2009, edition of the Tax Advisor Journal, reviews the requirements for recognizing unused tax losses as assets, and the application of those requirements under IFRS, specifically, IAS 12, Income Taxes. (pdf, 291kb)

Updated Financial Reporting Developments publication - "Accounting for Income Taxes"

An updated edition of Ernst & Young's Financial Reporting Developments publication, "Accounting for Income Taxes (pdf, 1.7mb) " is now available, containing publications and articles that EY has issued regarding new accounting standards and to provide additional interpretative guidance on certain topics. The updated guide covers a range of changes, including a new section on accounting for the income tax effects of business combinations to reflect the amendments to FASB Statement No. 109.

FAS 141(R), Business Combinations: why should the tax department care?

This new report from Ernst & Young provides a framework for understanding income tax accounting considerations under FAS 141(R), Business Combinations (pdf, 290kb). FAS 141(R) is effective for business combination transactions for which the acquisition date is during or after the first annual period beginning on or after December 15, 2008.

Contacts

To find out more about the services we offer in this area please contact:

Andrew Lee
Tel: +48 225577510

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Tax Accounting and Risk Advisory Services - Ernst & Young - Global