Gain a deeper understanding of tax internal controls and the existing external environmental factors impacting them.
The tax world is evolving at a more rapid pace than ever, from a technical perspective from a technological perspective, and from a risk perspective. As a result, Tax departments are faced with an ever-changing landscape of issues to deal with and are often left with an inadequate amount of time, or an appropriate process, to identify areas of increasing tax internal control risk. Before you can begin to understand and address these areas of risk, it is important to have a deeper understanding of the internal and external environment that is creating risk and complexity while at the same time being armed with the ability to identify and remediate any gaps with your current environment. This material will arm you with a deeper understanding of tax internal controls and the existing external environmental factors impacting them. Additionally, you will be able to leverage some of the learnings and tools provided, which will allow you to better manage and address this complex area of internal control risk from a tax perspective.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Introduction - Complex World of Tax Internal Controls
Tax Internal Control Risk - What Is It?
- Technical Risk
- Process Risk
- People Risk
The External Environment
- The Rapidly Changing External Environment
- Third-Party Audit Firms
- PCAOB Focus Areas
- Documentation Requirements
Design of Tax Internal Control Environment
- Risk Control Matrix (Rcm)
- Process Flows and Narratives
- Key and Non-Key Controls Defined
- Change to Control Environment
Assessing and Remediating Risk
- Tax Maturity Assessment
- Gap Analysis
- Prioritizing Risk
- Automation / Optimization
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on January 30, 2024.
Call 1-866-352-9540 for further credit information.
- AIPB 2.0
- This program is acceptable for 2.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
MP3 Download
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
John P. Bennecke
Baker Tilly US, LLP
- Partner – National Leader Tax Evolution and Automation and Team Leader IL Manufacturing and Distribution of Bakertilly
- Leads the Tax Evolution and Automation T.E.A. (nationally) and is the Team Leader for IL Manufacturing and Distribution ( Audit & Tax ), in addition to his leadership responsibilities he manages tax compliance and consulting for large and mid-size multinational corporate entities, comprised of both public companies and privately held organizations; in this role he provides services in the following specialty service offerings; Accounting for Income Taxes (ASC740), Tax Optimization and Automation, and Tax Internal Controls Design
- Frequently sought-after speaker; he has most recently spoken for Tax Executives Institute T.E.I, Thomson Reuters Synergy 2023 National Users Conference, University of South Florida USF, and the IL and MI CPA associations
- Before joining Bakertilly, he served as the Managing Partner of True Partners, LLC Chicago office and national leader of Tax Process and Control Advisory Services he has over 30 years of experience which includes Big 4 / 5 ( Arthur Andersen and Deloitte ), prior to being one of the founding team members of True Partners Consulting
- Belongs to AICPA ( Tax Section Member ), IL CPA Society ( Firm Member ), The City Club of Chicago, the Chicago Tax Club
- Has served on the Board of Directors and as the Treasurer of Cara Collective a nationally recognized Chicago based not-for-profit that provides job placement and educational training for Chicago’s homeless and adults in transition
- B.S. degree, DePaul University; Master of Jurisprudence in Business Law, Loyola University’s Law School and Northwestern University, Kellogg School of Management
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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