• Workflow & Documentation

Increase transparency, facilitate cross-training, and reduce risk.

Task management is an essential part of day-to-day operations and allows the tax department to meet compliance, transactional, and financial statement reporting requirements and deadlines. Third-party workflow and calendar software can greatly accelerate the journey toward a high-functioning, best-in-class tax function. Streamlining these manual tasks is integral to the success of tax becoming a strategic partner in the management and oversight of a company’s total tax liability.
 
While workflow documentation is essential to the resilience of the tax department, it is often overlooked. Naming conventions as well as storage, real-time access to, and standardization of, tax workpapers across the department is vital, especially with the prevalence of a remote workforce.
 
Regardless of challenges surrounding workforce turnover and the ever-changing tax regulatory environment, maintaining process and tax technology documentation allows for:
  • Cross-training and fewer key-person dependencies
  • Reduced risk (internal control/external audit/regulatory risks)
  • Streamlined hand-offs and review processes
  • Increased transparency into tax lifecycle steps

BDO’s processes and technologies provide tax departments with document management, workflow, collaboration, and calendar capabilities. Whether insourcing, outsourcing, or co-sourcing, the tax process steps, methodologies, documentation, tax workpapers, and technologies we use are largely the same. The BDO Global Portal provides a single global view of engagements, allowing for greater transparency, more streamlined work processes, and centralized data and document management. 

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