Risk transformation and tax
Securing the benefits of enhanced tax-risk management
Facing a complex regulatory environment and vigorous drivers of tax risk, many global financial services enterprises are finding their approaches to managing tax risks unequal to the challenges. At the same time, many chief risk officers (CROs) seek to transform their organizations’ overall management of risk. They aim to drive integrated risk management, aligned with enterprise strategy, into every business unit and function across their organizations.
This paper, written for CROs, tax executives, chief financial officers (CFOs), chief executive officers (CEOs), and board members, summarizes the forces driving tax risk and examines the state of tax-risk management in the financial services industry. It then outlines basic tenets of risk transformation and examines ways and means of transforming the management of tax risk.