Tax Risk in the Boardroom - Deloitte & Touche Canada

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Regulatory Focus on Taxes“Sunlight is said to be the bestdisinfectant, and the area ofincome tax accounting coulduse more sunlight.”Donald T. Nicolaison,Chief Accountant of the SEC,February 11, 2004
“… as with other risks, I think it isimportant that the board identifythe taxation risks associatedwith their organizations’ operations,which risks are acceptable andappropriate, and which are not,and put in place a process for themanagement of those risks.”Australian Commissioner of Taxation
Page 1 and 2: The Directors’ SeriesTax Risk in
Page 3 and 4: Pressure on Boards of DirectorsPoli
Page 5 and 6: On a scale of 1 to 5 rate yourlevel
Page 8 and 9: Lucent TechnologiesMicrosoftWasteMa
Page 12 and 13: Defining TaxOur educated guess: “
Page 14 and 15: What percentage of a company’stax
Page 16 and 17: 2%21%36%Cross BorderM & AMarketingH
Page 18 and 19: SOXCan’t afford to abdicaterespon
Page 20 and 21: Number Specific Risk Exposure %1Une
Page 22 and 23: TEI SurveySelect the top three most
Page 24 and 25: Decision Support SystemTax risk man
Page 26 and 27: 2%26%YesNoNo Answer72%
Page 28 and 29: Benefits Beyond Compliance• A tax
Page 30 and 31: Capital Market Reform - U.S.• Sar
Page 32 and 33: Guiding Principles forAuditor Indep
Page 34 and 35: Pre-approval by the auditcommittee
Page 36 and 37: Tax Services seen to impairauditor
Page 38 and 39: Research• What are Canadian Compa
Page 40 and 41: Board Considerations• Boards may
Page 42: The Directors’ Series(Risk - Dire

Tax Risk in the Boardroom - Deloitte & Touche Canada

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