Tax risk management is extremely important to taxpayers who are required to take reasonable care in their tax affairs. Risk management is being seen as a global corporate governance issue and as including tax risk management conceived widely to cover not only technical and financial impact but also corporate reputation and accountability.
In recent times there has been a changing of the tide in the way that corporate governance, compliance, and business ethics are approached. There is a worldwide trend towards greater transparency in financial reporting and improved accountability, facilitated by a greater emphasis on broader corporate compliance and social responsibility. This accountability extends to having a more rigorous approach to tax risk management within the broader focus on corporate governance.
Large organisations in particular have to manage risks to their performance and reputation. Better management of risks can lead to more certainty around the achievement of business objectives, which in turn can increase returns for the organisation's stakeholders. In contrast, lack of a corporate policy setting out the tax risk level acceptable to the board or audit committee may result in potential financial loss or missed opportunities. Moreover, unanticipated tax risks may derail the organisation's strategic goals and objectives.
The aim of this workshop is the pull together the current thinking on tax risk management from a South African context. Stakeholders, including those sitting outside the tax function, need to be comfortable that there is an effective tax risk management policy in their organisation, that tax, as one of the key costs in the business, is being properly managed and that the inherent risks in the tax position of the organisation are being both understood and properly controlled.
Specific topics to be covered:
- Changing landscape of tax
- Tax transparency
- Different stakeholders
- Compliance landscape – laws and regulations
- Enhanced relationship
- Revenue authorities
- What is tax risk
- How a tax function can manage its tax risk
- Tax control framework
- Enterprise wide tax risk management
WHO SHOULD ATTEND:
- Chief Financial Officers
- Head of Tax Department
- Tax Accountants
- Compliance Officers
- Risk Officers
Marcus Botha, Senior Manager, PwC, Johannesburg,
Marcus is a Senior Manager in the Tax Management and Accounting Services (TMAS) practice in Gauteng and is the National Leader of Tax Function Effectiveness (TFE) and Tax Risk Assurance Management (TRAM).
He previously worked in the Group Risk Division as Head of Tax Risk at one of the big 4 banks and has extensive experience in tax related internal audit, governance and enterprise risk management. Marcus specialises in providing internal assurance on tax risk to audit committees, boards and management teams and he assisted various clients with the mitigation of tax risk and assessing the design and effectiveness of internal tax controls in order to provide ultimate internal assurance using a combined assurance framework and three lines of defence.
He has also been actively involved in creating best practice in the tax risk assurance field, both in a consulting capacity and in commerce and industry. Marcus is a guest lecturer at the University of Pretoria where he lectures on Tax Risk Management as part of the Tax Honours programme.
Attendance will secure 8 hours verifiable CPD points/units, incl. other professional bodies.
(SAICA, SAIPA, SAIBA, ACCA, FPI, ACIS, LSSA, FISA)
EVENT INVESTMENT: SAIT Members: R1 690.00
Affiliated Members R1 990.00
Non-Members: R2 190.00