Tax risk management

a review of recent developments in tax risk management and an analysis of the impact of tax risk management on the tax function within a large corporation

Research output: Chapter in Book/Report/Conference proceedingConference proceeding contribution

Abstract

Business decisions of a corporation include matters relating to taxation and are made by management whilst the financial impact of those business decisions, to a large extent, are borne by the shareholders. Corporate governance practices seek to provide a mechanism whereby the interests of management are aligned with those of the shareholders. Current expectations of good corporate governance now include tax risk management and this paper will outline the relevant obligations on a corporation such as Principle 7 of Australian Stock Exchange Principles of Good Corporate Governance and Sarbanes-Oxley Section 404 in the US. Tax risk management by large corporations has recently been the focus of the Australian Taxation Commissioner's statements on appropriate tax compliance policies. Other tax authorities around the world have also raised tax risk management as integral to a company's tax compliance strategy. This paper will look at pressures in Australia and around the world on large corporations to address tax risk as part of a corporate governance strategy and how corporate attitudes and practice towards managing tax risk have evolved. This paper also looks at the impact of the tax risk management through a review of surveys carried out by a number of organisations including international chartered accounting firms.
Original languageEnglish
Title of host publication2008 Australasian Tax Teachers' Association Conference
Subtitle of host publicationTax : the devil's in the detail
Place of PublicationHobart, Tasmania
PublisherFaculty of Business, University of Tasmania
Pages1-35
Number of pages35
Publication statusPublished - 2008
EventAustralasian Tax Teachers' Association Conference (20th : 2008) - Hobart
Duration: 23 Jan 200825 Jan 2008

Conference

ConferenceAustralasian Tax Teachers' Association Conference (20th : 2008)
CityHobart
Period23/01/0825/01/08

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  • Cite this

    Lavermicocca, C. (2008). Tax risk management: a review of recent developments in tax risk management and an analysis of the impact of tax risk management on the tax function within a large corporation. In 2008 Australasian Tax Teachers' Association Conference: Tax : the devil's in the detail (pp. 1-35). Hobart, Tasmania: Faculty of Business, University of Tasmania.