The Brockman brief: Audit and risk transparency: Why it matters

International Tax Review is part of Legal Benchmarking Limited, 4 Bouverie Street, London, EC4Y 8AX

Copyright © Legal Benchmarking Limited and its affiliated companies 2025

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

Cookies Settings

The Brockman brief: Audit and risk transparency: Why it matters

February 01 2016
brockman-thumb.jpg

‘Transparency’ is the latest term of art that has emerged from the OECD’s Action Plan with respect to its base erosion and profit shifting (BEPS) initiatives. But the obvious question that has consciously been ignored in the public domain is: where are the matching transparencies regarding determination of tax risks and identification of substantive issues by tax authorities upon commencement and conduct of an audit?

Unlock this content.

The content you are trying to view is exclusive to our subscribers.

To unlock this content:

Take a Free Trial or Login

Topics

PortugalPhilippinesUnited StatesIsraelItalyIsle of ManJerseyJapanParaguayPakistanSloveniaSouth AfricaSingaporeSlovak RepublicArgentinaGlobalAustraliaRomaniaAlbaniaRussiaSerbiaAlgeriaSaudi ArabiaMonacoMauritiusMexicoMoroccoNorth MacedoniaGibraltarGreeceGermanyGuernseyGulf Cooperation CouncilMalaysiaNigeriaNew ZealandFeatureNorwayHong Kong SARIndiaIndonesiaHungaryIcelandIrelandNetherlandsIranChileDirect TaxCosta RicaCroatiaChinaTax DisputesColombiaCompliance ManagementFranceLuxembourgDenmarkCyprusCzech RepublicEuropean UnionFinlandEgyptTanzaniaThailandBelgiumAustriaSpainSouth KoreaSwitzerlandTaiwanSwedenVenezuelaCanadaVietnamCayman IslandsBosnia and HerzegovinaTurkeyUnited Arab EmiratesBulgariaCambodiaUruguayUnited KingdomBrazilUkraineBritish Virgin IslandsITR MagazineFebruary 2016AfricaAsia-PacificEuropeLatin America and Caribbean North America Central AmericaJurisdictions
more across site & shared bottom lb ros

More from across our site

Direct Tax
Internal Revenue Serice Sign
This week in tax: Gary Shapley tipped to become acting IRS commissioner
Shapley would be the fourth person to hold the job this year; in other news, UK tax advisory firm MHA raised fewer funds than expected from its London IPO
Tom Baker, April 17 2025
Transfer Pricing
Masciangelo-Michael_BDO.jpg
‘General pause’ on pillar one in many countries: BDO tax chief
The US needs to be involved in pillar one for there to be more international acceptance of the project, Michael Masciangelo says
Sam Sholli, April 17 2025
Direct Tax
EY
EY’s regulatory troubles continue as FRC launches Post Office probe
The UK regulator is investigating EY’s auditing of the national postal service as it relates to the high-profile Horizon scandal, which saw hundreds wrongfully convicted
Tom Baker, April 16 2025
Direct Tax
EU flags waving in front of European Parliament building in Brus
Council of the EU adopts DAC9 pillar two simplification directive
The directive will extend cooperation and information exchange around pillar two, according to the Council of the EU
Sam Sholli, April 15 2025
Direct Tax
Warsaw/Poland, April 8, 2018: View on EY (formerly Ernst&Young) logo on headquarters
EY fined £5.25m by UK watchdog over auditing failures
Audit engagement partner Christopher Voogd has also been hit with a £32,500 charge over the firm’s work with Stirling Water Seafield Finance
Sam Sholli, April 14 2025
Direct Tax
Night cityscape with bilding and road in Beijing city
Draft amendment to Chinese tax collection: impact on foreign-invested enterprises
China’s largest overhaul of its tax administration system in 24 years, featuring enhanced enforcement powers, is underway, says Abe Zhao of FenXun Partners
Abe Zhao, April 11 2025
Indirect Tax
US tariffs
This week in tax: Donald Trump pauses global tariffs
However, the US president increased tariffs on imported Chinese goods to 125%; in other news, UK tax firm MHA expects to raise £102m from its London listing
Sam Sholli, April 11 2025
Direct Tax
Swiss flag
One company pays 78% of top-up taxes in Switzerland: study
A mere three firms accounted for more than 90% of top-up taxes paid, according to research from Deloitte
Sam Sholli, April 10 2025
Direct Tax
USA Brazil
US foreign tax credit rules: impact on Brazilian withholding taxes
Taxpayers with Brazilian operations should revisit their withholding positions in light of updated US guidance, writes Rafael Benevides, senior tax counsel at Meta
Rafael Benevides, April 10 2025
Transfer Pricing
Tax court of Canada
‘No avenue for effective judicial oversight’: Experts on Canada TP case
The MEGlobal Canada decision highlights taxpayers’ frustrations over split jurisdiction for TP assessments as well as a need for legislative reform, one expert tells ITR
Sam Sholli, April 09 2025
Gift this article