Tax Monitoring Solution

SymSure for IDEA Tax Monitoring Solution

One constant across all businesses is tax. HM Revenue and Customs (HMRC) are introducing measures that are designed to ensure that companies become much more proactive in ensuring the accuracy of their tax returns. Tight deadlines for the submission of returns place pressure on tax departments to sign off the return without being able to adequately ensure its accuracy. HMRC are always updating tax reporting penalty regimes, meaning that inaccuracies on tax returns or failure to demonstrate reasonable care can prove to be costly.  

Preventative Controls

The focus of the Tax Monitoring solution is to define and automate tests for the controls within the organization’s tax reporting processes. The solution is able to monitor any transaction that has an impact on the tax returns.

Once completed, the monitoring framework examines all master data and transaction records to detect potential errors and alert the relevant persons automatically prior to the completion of the tax returns.

Our solution is compatible with any source of data, including ERP and bespoke applications. By continuously monitoring the systems and applying a comprehensive resolution workflow, the compliance process becomes independent and auditable. This solution is deployed to all the relevant stakeholders; assigning them issues to be dealt with and ensuring that they are addressed in a timely manner.

Contact
CaseWare IDEA Inc.            
Bob Cuthbertson
416-867-9504 ext. 170