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  • Tax governance

    The topics and evidence we typically cover in our request for information relating to tax governance are:

    Tax governance framework

    We want to gain an understanding of the processes and controls of entities that form part of this review. Provide:

    • an explanation of processes and controls in place and systems used that give the owner or management oversight of tax compliance
    • an outline of the key tax administration roles and responsibilities including both internal and external personnel
    • an explanation of how you identify and mitigate new commercial and tax risks relevant to your group, including under what kind of circumstances you would normally seek external advice on a taxation issue.
    • a summary of the report and findings of any recent internal or independent audit, including an explanation of how any recommendations have been implemented.

    We may ask you to provide any available supporting evidence of these processes and controls. This may include documented policies or other written guidance made available to key decision makers and employees such as:

    • manuals
    • exception reports
    • internal governance reviews
    • written procedures.

    If you have no written documents, state this.

    See also:

    Tax return preparation process

    To gain an understanding of your tax return preparation process for the entities we are reviewing, provide:

    • an overview of the tax return preparation process
    • any documented income tax preparation procedural manual or guidance for staff to follow
    • details of any tools such as flowcharts, checklists, spreadsheets that you use
    • the names of the accounting and tax systems (for example, software including the version) used for      
      • record keeping
      • preparing tax returns and schedules.

    Next step:

    Last modified: 10 Dec 2020QC 63760