Is your tax function “functioning” effectively?
Corporate tax functions are experiencing significant operational challenges due to ever expanding regulatory requirements coupled with a tight market for experienced people and the impact of low investment in the tax function over the years. These challenges have resulted in internal control deficiencies, financial restatements, resource shortages and, in some cases, a general loss of confidence in the tax function.
As a result, CFOs and tax VPs are expressing interest in new ways to avoid many of the missteps experienced by other companies or to launch well-defined remediation programs to substantially improve the effectiveness of corporate tax operations.
PwC's latest thinking about how companies can leverage technology already embedded in the broader finance organization to transform a high-pressure environment into an integrated ecosystem that drives improvements in productivity, quality and risk.