Tax function effectiveness: Overview

The ability of your tax function to deliver value depends on how well your company is able to adjust to recent regulatory changes and emerging market trends.

Whilst internal control deficiencies, financial restatements, inefficient processes, outdated tools and technology, and resource shortages all combine to present unprecedented challenges, they also present a compelling catalyst for action. Given the pressure to do more with existing resources, companies need a flexible, yet thorough, solution to address the operating performance of their tax function.

A high-performing tax department is essential to advance business interests and decrease overall risk. Regular reviews of the performance of your tax function will help achieve this ambition.

Working with PwC

PwC has developed a TFE service to help your company improve the performance of its tax planning, tax accounting, financial reporting, tax controversy and compliance functions. Our TFE service focuses on several key areas, including:
  • Tax function reviews
  • Tax provision technology
  • Provision process design / re-engineering
  • Tax compliance and other technology
  • ERP implementation support
  • Tax strategy and risk management
  • Technical competency assessments
  • Tax function organisational design, role descriptions and reporting lines
  • Internal controls remediation
  • Process documentation and operations manuals
  • Post merger / spin-off tax function integration and design
  • Compensation benchmarking
  • IFRS operational readiness support

Value to your company

By leveraging our insight, thought leadership and guidance on tax function effectiveness, your company may utilise innovative solutions to transform your tax operations to meet or surpass expectations. You may also experience the following benefits:
  • No more surprises in tax accounting
  • Improved controls and documentation
  • Greater collaboration within tax and with finance and business units
  • Increased focus on strategic objectives
  • Improved data quality and automation
  • Improved processes and efficiency
  • More effective tax leadership
  • Improved HR practices, personnel development andb decreased overtime
  • Greater ability to attract and retain talent