Publication

31 May 2018

Providing support in tax controls and assurance

This publication explores new concepts in tax based around enhanced transparency: tax control frameworks, tax assurance and co-operative compliance.

  • A tax control framework (TCF) is a set of internal controls implemented by a business over its tax function. The TCF aims to minimise the financial and reputational risks from a tax return being filed late or with incorrect or disputed information.
  • Tax assurance is simply external assurance on the design and\or operation of the TCF – increasing confidence for all parties that it is fit for purpose
  • Co-operative compliance is a legal structure implemented by national tax authorities to allow enhanced exchange of information between taxpayer and tax authority. For the tax authority, it allows the redeployment of resources to focus on non-compliant taxpayers and for the taxpayer it promises better legal certainty of their tax position with the possibility of a lighter – touch tax audit regime.

These developments offer significant advantages for taxpayers and tax authorities. Professional accountants can use their skills to help clients design systems that mitigate tax-related risks. Auditors can apply their skills to provide assurance on a client’s tax control framework. This publication also covers practical aspects professionals should keep in mind when providing such services.

Related content

UpdateTax Policy

1 September 2021

Consultation responseEC’s consultation on fighting the use of shell entities and arrangements for tax purposes

31 August 2021

Consultation responseIAASB’s survey consultation: work plan for 2022‒2023

25 August 2021

Consultation responseUK government BEIS department’s consultation on restoring trust in audit and corporate governance

8 July 2021

Consultation responseFeedback on the Corporate Sustainability Reporting Directive proposal

1 July 2021

UpdateTax Policy

25 June 2021

UpdateTax Policy

28 May 2021

PublicationResponses to Fraud and Going concern: recommendations to strengthen the financial reporting ecosystem

17 May 2021

EventWorking Together for the planet: Audit & Assurance of sustainability Information

29 April 2021

NewsAccountancy Europe: Future-proofing tax to make it green, digital and fair

26 April 2021

NewsAccountancy Europe: Toughen the financial reporting ecosystem against fraud

23 April 2021

PodcastAn inside look into the BEIS consultation

23 April 2021

UpdateTax Policy

16 April 2021

EventFuture-proofing tax: make it green, digital, fair

15 April 2021

UpdateTax Policy

29 March 2021

NewsFraud and going concern: Restoring public trust in the financial reporting ecosystem

24 March 2021

UpdateTax Policy

19 February 2021

EventSustainable corporate governance: future role for audit committees

5 February 2021

PublicationGoing concern: recommendations to strengthen the financial reporting ecosystem

3 February 2021

PublicationFraud: recommendations to strengthen the financial reporting ecosystem

3 February 2021

Sign up for our newsletter

* indicates required
Would you like to subscribe to our newsletter?
On which topics would you like to receive news?