Risk is vital for business, but only with effective management, says TCPI
16 February 2012
Delegates at the Tax Council Policy Institute (TCPI) were told yesterday that tax risk is an important and unavoidable part of doing business, but that effective risk management is essential.
Speakers at the event in Washington, DC, explained that businesses are increasingly incorporating tax risk in overall risk management and that is it vital for the board, audit committee, CFO and chief tax officer to have a clear and consistent agreement on the type of risk being assumed.
Doug Shulman, IRS Commissioner, opened the conference with a keynote that explained how he and the IRS want to better understand international tax risk management.
Shulman explained that effective information exchange and more coordinated action between tax officials...
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