Regulatory changes and emerging market trends have shifted the focus of most tax and accounting functions toward compliance-based activities, such as improving financial statement reporting and mitigating internal control deficiencies. Unfortunately, many companies lack the resources and experience to meet today’s tax accounting challenges, especially considering the mounting pressure to increase accuracy within tight deadlines.
PwC Singapore held an Income Tax Accounting Briefing on 29 August to discuss relevant tax accounting issues, including the link between accounting for income taxes and risk management, as well as, the impact weak internal controls can have on a company's effective tax rate and earnings per share. In addition, the session highlighted recent developments in tax accounting and provide an update on the status of US GAAP and IFRS convergence.
To find out more, you may download the presentation materials, or contact Mahip Gupta for further information.