Risky times - Corporate compliance podcast

Published on 19 May 11 by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE

The ATO has begun dealing with taxpayers according to their assessment of the risk rating of the taxpayer. This new approach, together with developments in accounting for uncertain tax positions (UTP) and international developments in disclosure obligations may have far reaching implications for the level of disclosure required by taxpayers. This podcast covers:

• the new risk differentiation approach and what to expect on the basis of your rating
• the IASB’s status on accounting for tax uncertainties
• international disclosure developments and how they may impact upon Australian business taxpayers and advisers
• cooperation between UK, US, Canadian and Australian tax authorities and what this may mean in practice.

Author profile

David Drummond CTA

David, has over 30 years corporate tax experience with Australian listed companies and local subsidiaries of multinationals. As a National Leader of Tax Risk Management Services ("TRMS") in KPMG Australia, David has liaised regularly on behalf of KPMG with the Senior Executive Officers of the Australian Taxation Office (ATO) responsible for the ATO Annual Compliance Program since its inception in 2002 and participated on Advisory Groups for reviews by the Inspector General of Taxation in regard to conduct of risk reviews and audits for Large Business, SME, HNWI and Wealthy Australians - Current at 14 November 2013

More by David DRUMMOND

• Tax and ethics paper - 23-January-2014
• Outcomes of the IGOT review of ATO large business risk reviews and audits paper - 23-February-2012
• A contextualisation of the SME $100 - $250 M Turnover Risk Assessment Project paper - 18-March-2009

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