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Tax Accounting/Risk Advisory

Our Tax Accounting/Risk Advisory support falls into the following areas:

  • Accounting for income taxes - Our accounting for income taxes support can reduce potential review comments by your external auditor on accounting for income tax matters, allowing for more timely financial statement closings. We can improve integration of your tax compliance and accounting functions, allowing you to use your internal resources in other areas.
  • Tax function optimization - You strive to achieve a high-quality and efficient tax function while working against a backdrop of legislative and regulatory complexity. You try to gather and process data efficiently but use some manual processes and have data issues. Compliance requires significant time, and you need to use analytics effectively to manage risk and reduce taxes. Grant Thornton's Tax Function Optimization services can help you to enhance the performance of a single tax function or all functions in your tax organization. Our team members use leading tax software tools and effective processes, working with you to create a highly performing tax organization that fits your objectives, risk profile, environment and budget. Our professionals provide value at multiple levels:
    • Board, CEO and CFO - Efficient collection and use of data to analyze business performance, drive planning, establish technology-enabled standardized processes and strengthen controls.
    • Controller and tax function - Integrated processes to manage risk, support planning and taxing authority requirements, enhance tax function collaboration with other departments and improve completeness and timeliness of reporting.
    • Tax staff - Automated tools that provide access to timely and complete data and assistance with responsibilities like entity reporting, aligning multiple charts of account, provision/compliance automation and integration, tax account analysis, workflow calendars and document management.