Annual Review 2006 - PwC

Why?
What We Do.
Assurance
Financial Assurance
We provide fi nancial statement assurance and related advisory
services to global and local public companies and Australian
private companies. Our premier service is the provision of statutory
audits for listed and non-listed entities under AIFRS, USGAAP
and other reporting frameworks. We offer regulatory attestation
for regulated entities and S404 controls attestation for Australian
SEC registrants and foreign subsidiaries.
Business Assurance
We help clients achieve their business objectives through effective
risk control. Educating boards and management about their
organisations’ risks and internal controls is an essential part of our
service. We conduct internal audits, test internal controls, and
offer IT security services and project assurance and management.
By improving the effi ciency of internal control systems, we
provide clients with comfort that their processes are effective
in minimising risk.
Private Client Services
Our team provides comprehensive personal wealth management
solutions for high net worth individuals and executives, as well as
assisting employers in effective executive reward arrangements.
We offer advice in the areas of personal tax planning and
compliance, transaction management, superannuation, retirement
and estate planning. We assist with the preparation and lodgement
of fi nancial statements and income tax returns for private
companies, trusts, self-managed superannuation funds,
partnerships and individuals. In the case of an Australian Taxation
Offi ce (ATO) audit, we correspond and negotiate with the ATO on
our clients’ behalf and prepare private ruling requests where
required. We also ensure tax-effective structuring around the
acquisition and disposal of assets; help our clients manage cash
fl ow, liquidity and debt to ensure deemed dividends are avoided
where possible; and develop tax-effective family structuring that
takes account of long-term family goals.
26 PricewaterhouseCoopers
Tax and Legal
Corporate Tax Services
Our corporate tax group works with clients to structure activities
and transactions in a way that appropriately manages the tax
imposts and taxation risks to businesses. Particular areas of focus
include acquisitions, divestments and fi nancing. Proactivity and
discussion, combined with a comprehensive knowledge of tax law,
enable us to achieve results and ensure our clients meet their tax
compliance requirements. This extends from tax return preparation
– developing the best systems and technology to provide the
information for reliable and effi cient compliance – through to
proactive tax planning.
Compliance Services
Our Compliance team is the market leader in delivering leadingedge
tax compliance and management solutions. We assist
businesses and organisations with their tax compliance needs by
delivering a wide range of off-the-shelf and customised tax
products, including technology products based on our PowerTax
platform. These include compliance reporting solutions for
corporate income tax, fringe benefi ts tax, trust distributions,
property taxes, indirect taxes (VAT/GST and sales tax), IFRS and
international tax issues.
Our key tax compliance management solution involves assisting
our clients in managing their end-to-end compliance (E2E),
providing value beyond the tax return review. It is about the
passionate application of industry expertise to improve effi ciency,
quality and ease from the beginning to the end of the compliance
and reporting cycle. We do this through reviewing processes,
reporting needs and risk profi les. Together with our clients, we
develop E2E plans that address processes, technology and
the best mix of internal and external teams to drive improved
effi ciency and quality.
Where our clients have offshore operations, all of our tax
management solutions can be used to manage their global tax
compliance issues, risks and opportunities. We accomplish this
through our Global Compliance Services offering, which
encompasses not just corporate income tax but also indirect taxes,
accounting services and payroll. We have a strong international
network of tax compliance specialists providing a consistently
high-quality service, coordinated across as many territories as our
clients require.