Global compliance services: Overview

In today’s evolving regulatory environment, global compliance management has become an increasingly complex and risky area. Operating in numerous countries requires coordination of subsidiaries with diverse accounting practices, legislative environments and local business customs. Multinational groups often struggle to oversee local tax compliance, group GAAP tax reporting and local statutory filings.

Companies are looking for increased control, oversight and visibility over foreign tax compliance, accounting and preparation of financial statements. However ensuring effective management at a minimum cost is not easy. The costs and risks of addressing these issues with in-house resources are often prohibitive.

As groups increasingly centralise their finance and accounting functions, the risks of compliance failure also grow. Companies typically struggle to fund internal investment necessary to ensure the ongoing integrity of compliance processes and to realize the performance improvement potential that centralization brings.

Working with PwC

Our Global Compliance Services (GCS) network, part of our broader Tax Management & Accounting Services (TMAS) practice, comprises a network of local country compliance service teams, supported by proven process, technology and effective central coordination. Our GCS network offers coordinated compliance services spanning:

• Direct tax compliance
• Indirect tax compliance
• Tax accounting and reporting

Each of these services is overseen by central/regional Client Relationship Managers. Our services are also underpinned by our GCS WorldView technology, helping us coordinate worldwide activity and giving you online oversight and access to the information you need.

Value to your company

Our GCS network provides you with:

• Improved control and visibility of your global/regional compliance, accounting and reporting operations.
• Quality, cost effective local country services, meeting both local country and global needs.
• The information required at HQ, online, in consistent format, to a pre-agreed timetable.
• Low coordination costs, with HQ time freed for value-adding activity.
• Managed transition using standardised processes and tools, with central support. Smooth, effective, low cost transition.
• Process transformation, both through adopting PwC’s ‘ready made’ processes and through bespoke process improvement.
• The potential for streamlined centralised data extraction, linking your systems and finance centres with local country compliance processes.
• Continuous process improvement, leveraging our ongoing investment in compliance and data gathering process and technology.