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Transforming your tax accounting cycle process

Helping you design, automate, or transform your end-to-end tax accounting processes and controls framework to drive efficiency, analytics, insights, and collaboration.

As the tax environment continues to evolve, its complexities and intricacies evolve with it. The tax function of the future must respond to these complex regulatory changes, while maintaining accuracy and effectiveness. Our Tax Reporting and Strategy (TRS) for Tax Accounting team combines our deep knowledge of processes and technologies to help you design your existing tax accounting processes, embed controls, and adopt tax technologies that can help address your complex global tax accounting needs.

Preparing for the year-end and quarterly Non-US data collection process

Data collection remains one of the most confounding issues when it comes to executing on the year end and quarterly provision process. One of the most time-consuming challenges is gathering data to support the Non-US provisions in their books. There are so many demands for this data from various stakeholders and multiple technology options to assist in the process, it’s hard to know where to start.

What can tax departments do now to get prepared for the Non-US data collection process?

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Our services

Provision process and technology assessment

Through formal requirements gathering and vendor selection, your tax team will identify desired capabilities and functionality as well as lay out the strengths and weaknesses of each tax provision software vendor. At the same time, we review your current processes and begin to help you with redesigning, data planning, and rationalizing resources.

Provision software implementation

Our collaborative approach combines the strengths of our clients and all major provision software vendors for an end-to-end tax provision solution focused on your strategic vision.

Provision software upgrades and enhancements

Tax provision software applications have changed dramatically over the last few years. Enhanced functionality, improved user interfaces, and cloud-based versions can drive impact to your tax department efficiencies. PwC is prepared to help you leverage the investments you’ve already made by reviewing your software applications, making recommendations, and assisting you to further improve your processes.

Provision remediation with technology focus

We help address tax issues related to financial statement reporting matters by reviewing controls around software applications and assisting in planning sustainable tax accounting processes. TRS for Tax Accounting approaches provision remediation with a focus on your processes and the use of tax technology. By focusing on the tax issues related to financial statement reporting matters, the process in which the issues are tackled and the benefit to be derived from tax software, we can address the specific risk or control deficiency. Through the review of the controls around software applications and assistance in planning sustainable tax accounting processes we can find solutions to help improve your tax function’s performance while reducing your risk.

Our approach

Experience the transformation

PwC has recently undergone an accelerated digital transformation, upskilling 276,000 people across a variety of domains such as data, analytics, AI and automation, Blockchain, and design thinking.

  • Work with a team that has extensive knowledge in industry-leading practices and company culture — we’ll work with you to develop a solution that helps fuel your business vision.
  • Offer streamlined processes that can drive alignment with the right technology options.
  • Stay flexible and updated throughout the project to meet your needs, as they evolve.

Collaborate to make change “stick”

You need value from this transformation to help harness knowledge continuously and accelerate the path forward. Collaboration is the key to the success of this initiative, as we work with you and move toward a successful launch and sustained benefits.

  • Foster a new upskilling culture for employees, as they will have the ultimate responsibility for tax reporting.
  • Through teaming opportunities, help your people make informed design decisions and enable their regular, active involvement in the configuration and testing process.

Apply continuous change management and knowledge transfer to gain confidence and prepare for successful adoption.

What value you can realize

Our digital story

Your journey is our journey. We’ve re-oriented our firm’s identity around a distinct digital mindset and experience, embodied by these core principles:

  • Firmwide digital mindset: The commitment to digital leadership and value creation drives each aspect of our business – both internally and client facing.
  • “Digital Fitness” for everyone: Our “Digital Fitness” concept transcends specific solutions, automation, and technology. It’s developing new ways of working and thinking at all levels of the firm.
  • An emphasis on efficiency and scale: With ever- growing capabilities, our digital strategists, technologists, and data scientists create practical, scalable value from leading and emerging technologies.

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Our credentials

Our national team has performed over 200 tax technology implementations with a focus on tax provision process improvements, gaining valuable experience and leading practice solutions to common problems. 

  • Tax provision process and technology expertise: We help clients design and execute a tax operations strategy using leading technology and practical solutions so tax functions operate effectively across data, process, technology and people.
  • Tax accounting technical experience and expertise: Our delivery team possesses deep technical ASC 740 knowledge, experience in designing, documenting, and assessing tax provision processes and related 404 and SOX controls. 
  • Relationship with 3rd party vendors promotes effective teaming: We have a long standing working relationship with provision software providers that allow us to provide you a successful implementation and seamless integration of your tax provision software.

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A holistic viewpoint

We think holistically before we act, always mindful of the business consideration of a transformation. We’ll bring you ideas and perspectives that consider the bigger picture and encourage you to look beyond the obvious to achieve a future state that delivers on your short-term and long-term goals. We’ll help you:

  • Manage costs: We recognize the cost of technology transformations can be daunting. That’s why we’ll evaluate your entire tax technology environment to help you arrive at the solution that works for you.
  • Leverage existing investments: We understand the importance your technological environment plays within your tax function. That’s why we’re prepared to help you take advantage of the investments you’ve already made to work seamlessly within your future tax function.

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Contact us

Laura Ferine

Laura Ferine

Partner, Transfer Pricing, PwC US

Cindy Frank

Cindy Frank

Director, Tax Reporting & Strategy, PwC US

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