Tax accounting and reporting function services

Helping your tax function manage risk, enhance accuracy, and create efficiency

Tax departments are faced with unique challenges, including:

Staying on top of constantly evolving tax legislation

Determining the impact of those changes for tax accounting purposes

Meeting increased reporting and compliance obligations

Keeping up-to-date on the latest changes to accounting standards

At the same time, stakeholders such as investors, lenders, audit committees and regulators are expecting more efficiency, accuracy, transparency, and risk management from the tax accounting and reporting function.

In order to meet the demands of today’s dynamic business environment, mitigate risk, and accelerate efficiency within the tax accounting and reporting function, corporate tax teams need to stay agile and leverage tax technology.

Tax accounting and reporting function support

KPMG’s experienced professionals can help your tax department address these complex challenges. We provide a broad range of services to support your tax accounting and reporting function, from full-scale preparation of your company’s tax provision to advisory services related to tax accounting issues and more under IFRS Accounting Standards, Accounting Standards for Private Enterprises (ASPE), and US GAAP.

We can also help your tax team enhance your tax target operating model to create efficiency, increase accuracy, and enhance transparency within your tax accounting and reporting function. This includes streamlining processes, designing and implementing tax technology, and assisting with tax risk management and governance supporting tax data management.

Our services can be tailored to address the individual needs of large public companies as well as private businesses.

How we can help

Tax provision calculations and disclosures

Prepare or review all or a part of quarterly and annual income tax provision calculations and related financial statement and MD&A disclosures including uncertain tax positions.
Prepare related working papers and reconciliations, and communicate with external auditors.

Tax accounting advisory

Advise on tax accounting implications for specific or proposed transactions, error corrections, changes in accounting standards, changes in accounting policies, and changes in income tax legislation, regulatory requirements and disclosures.

Mergers and acquisitions (M&A) tax accounting advisory

Provide specific tax accounting advisory related to pre- and post- deal reporting for M&A transactions, divestitures, discontinued operations, restructurings, and IPOs.

Internal controls, processes, and procedures

Identify opportunities to improve tax accounting internal controls and processes to enhance accuracy and efficiency, reduce risk, and integrate these processes into broader reporting cycles.
Assist with streamlining processes, risk management, and governance.

Tax technology

Leverage advanced tax automation and tax data technologies to support the selection, customization, and implementation of efficient and effective tax reporting systems, including to assist with third party software.

Tax accounting training

Provide general or customized training on accounting for income taxes under IFRS Accounting Standards, Accounting Standards for Private Enterprises (ASPE), and US GAAP.

Frequently asked questions (FAQs)

In today’s environment, companies depend on their tax department to deliver more with less while still managing risks, maintaining compliance with ever-changing tax legislation, and producing reliable, high-quality tax data that can provide valuable business insights.

KPMG’s broad range of tax accounting and reporting function services can help your tax department focus on driving value beyond day-to-day accounting and reporting. Our experienced team of professionals offer a deep knowledge of IFRS Accounting Standards, Accounting Standards for Private Enterprises (ASPE), and US GAAP, as well as advanced tax compliance and tax data management technology tools and industry insights. Specifically, our team can keep you informed on how you can reduce risk, improve the efficiency and effectiveness of your tax accounting and reporting function, and free up more of your team’s resources to focus on value-added strategic priorities. We can provide valuable assistance, regardless of whether you are looking for support in the preparation of your tax provision, seeking tax accounting advisory services or opportunities to improve controls, processes and procedures or leveraging tax technology within your tax accounting and reporting function.

KPMG’s experienced tax technology and data analytics specialists can assist companies of all types and sizes in streamlining processes and automating the manual, repetitive tasks associated with the tax accounting and reporting function. Backed by advanced tax compliance and accounting technology tools, KPMG professionals can enable your tax department to quickly identify opportunities for improvement, design solutions, and implement a more efficient tax accounting and reporting function. By helping you identify the appropriate suite of digital analytics tools and systems for your business, we can empower tax leaders to provide faster, more accurate reporting and forecasting data aligned to clear business metrics to enable informed strategic decisions and improved performance.

KPMG’s tax and advisory professionals can support companies as they transform risk into an enduring competitive advantage while navigating complex tax accounting and reporting issues. Drawing on extensive experience and industry trends, we can help you analyze tax risk and develop effective governance processes to mitigate that risk and support tax data management. Our practical ideas and informed risk perspectives, tailored to each company’s circumstances, support the transformative strategies and capabilities required for sustainable change and consistent high performance.

KPMG provides a comprehensive and holistic service offering to help you stay compliant with evolving tax reporting obligations, mitigate risk, and reduce costs. We have the breadth and depth of experience in all aspects of the tax accounting and reporting function to support both private and public companies, from start-ups to established businesses. Our experienced professionals also have access to a global network of technical resources and are up to date on current and emerging developments and industry best practices affecting the tax accounting and reporting function, which we can leverage to assist you in identifying potential opportunities to reduce risk and improve the efficiency and effectiveness of your tax accounting and reporting function.