Does this sound familiar? An error in day-to-day operational business – and then trouble providing thorough documentation to the tax authorities. This is more common than you might think. But it’s also preventable! And without suitable controls, things like this can happen over and over.
The focus here isn’t just on avoiding risk, but above all on comprehensive risk management.
After all, in your position of responsibility, you’re obligated to act in accordance with tax laws and rules at all times. This is the only way you can minimise potential liability risks to the corporate organs and the business itself.
But how should a control system like this be designed so as to avoid overkill?
A few simple questions can help decide whether your company is ready to meet the many tax requirements that apply at all times:
- Are there suitable control mechanisms to ensure correct tax returns?
- Can business transactions be traced without any gaps from the tax return to posting?
- Can matters that are relevant in terms of taxes also be assessed from the standpoint of tax law?
- Can all changes in tax law be identified at the company itself and communicated accordingly?
- Is the tax department involved in every process involving signing or amending a contract?
If you answered “No” to any of the above, we should talk and find out what solutions might be able to help your company.
After all, our team of experts knows what really counts. We can perform a risk analysis and then create your individual tax compliance system. Not just for actions that are needed now, but also to optimise your tax departments and other specialised units. Regular audits after that can help to identify and close any organisational and/or control gaps. With solid support in the form of standardised, automated processes. All with a focus on real-world practice and legal compliance.
We can do all this and more for you:
- Risk analysis and process description for your current situation
- Designing customised controls
- Implementation and training