Improvement and integration of tax accounting and reporting into the finance function has never been more important than it is today. Financial restatements coupled with increased regulatory scrutiny of tax accounts and related required transparent tax disclosures has elevated the focus on tax accounting and exposed significant problems in many companies.
Often, companies lack the resources and experience to meet today’s tax accounting challenges, especially considering the mounting pressure to increase accuracy within increasingly tight deadlines.
Those challenges will be further complicated by the emergence of globalization of business and convergence of di_erent accounting standards, putting even more strain on an already resource constrained tax function. Although conceptually IFRS and US GAAP have similar tax accounting principles as Japan GAAP, there are significant di_erences in several important tax accounting areas resulting in additional complications.
Our TAS team is comprised of dedicated professionals with a background in accounting, auditing, and tax. PwC’s tax accounting network delivers a comprehensive approach to tax accounting. We work with other PwC TAS professionals around the world to provide local, regional, and global tax accounting expertise.
This comprehensive approach may include the following TAS services;