In these times of economic uncertainty and regulatory change, leading organisations are taking a proactive approach to risk management across the full spectrum of their activities. Tax is not excluded. As your business and the regulatory landscape changes, weaknesses may emerge even in the strongest controls.
The Tax Risk Cube is a diagnostic tool to evaluate the current state of your tax function at different levels within your organisation. The tool produces a traffic light rating which helps facilitate informed decision-making around tax strategy and priorities and provides a framework to benchmark change initiatives. It can be used to give your board a fresh perspective on the presence and performance of your control settings.
The Tax Risk Cube contains a structured approach to covering Direct Tax, Indirect Tax, Customs and Excise Duties and Employment Tax. Each area is assessed across the four key components of an integrated risk framework: Risk Controls, Process, People and Organisation and Systems.