Tax & Law Services
- About Our Global Tax Services
- Country Tax Advisory
- Cross Border Tax Advisory
- Global Trade
- Global Compliance and Reporting
- Human Capital
- Private Client Services
- Tax Accounting
- Tax Performance Advisory
- Tax Policy and Controversy
- Transaction Tax
- Transfer Pricing and Operating Model Effectiveness
- VAT, GST and Other Sales Taxes
Tax accounting and risk advisory services (TARAS)
Today's business and tax environment is increasingly complex, generating more and more demands for transparency. In addition, the accuracy of income tax accounts and disclosures in financial statements remains one of the top areas of material weakness and risk.
How we can help?
While highly qualified professionals may be a limited resource, we provide assistance in the following key areas to help you respond to these demands:
Implementation of new accounting standards, conversion and tax accounting assistance in
- Adoption of new accounting standards, including effective tax rate and cash implications
- Financial statement and disclosure requirements
- Employee education and training
- Conversion of financial statements from local GAAP to IFRS/US GAAP
Tax provision preparation and review
- Support in calculation of tax provisions (quarterly and annual), including provision to return adjustment and current and deferred tax expense
- Review of tax provision calculations
- Assistance in data analysis and calculations for valuation allowances and share-based payments
- Analysis of provisions for uncertain tax positions under ASC 740 or contingent liabilities under IAS 12
Review and remediation of tax provision process
Tax provision processes can be ineffective for many reasons, including relatively low priority for local management and communication problems between local teams and headquarters.
Our TARAS team is best placed to solve these problems, as it combines deep knowledge of local tax legislation with understanding of US GAAP/IFRS standards. We offer review and remediation of the tax provision process, including:
- Preparation of tax provision audit file
- Education of local management
- Preparation of tax balance sheet
- True-up work identification of out of period entries
Tax balance sheet accounts
- Validation of current and deferred tax balance sheet accounts
- Preparation of tax basis balance sheets to support cumulative temporary differences
- Preparation of calculations to support a tax provision restatement
Transaction tax accounting assistance with respect to
- Fresh start accounting
- Acquisition matters, including purchase accounting deferred tax calculations, validation of target company deferred and current tax balances, analysis of uncertain tax positions/contingent liabilities for target companies, determination of combined effective tax rates, tax accounting considerations due to post-merger restructuring transactions, and consideration of special income tax areas.
- Divestitures, including carve-out tax provisions and current and deferred tax balances
- IPO readiness
- Adjustments to pro-forma financial statements
Tax risk advisory
- Identification and prioritization of key tax provision procedures and controls
- Handling monitoring of controls 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.
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