Tax Risk Management
Review tax risk frameworks to ensure risks are minimised and managed properly
Type
Domain
Competency Area
Taxation
Levels
Assist to ascertain tax risk areas
Extract tax and tax- related information for analysis to assist in monitoring tax risks
Comply with tax controls and policies to aid monitoring of tax risks
Identify and follow-up on Non-compliances
Ascertain tax risks areas and management measures
Analyse secondary information gathered on tax and tax-related developments to draft tax risks reports
Analyse internal monitoring reports on developments that may have impact on tax risks
Apply controls to aid tax risk management through understanding of risk trigger factors
Review plans and measures to mitigate tax-related risks
Analyse reports on business operations and external developments locally and internationally
Identify critical areas and trigger points that may have an impact on the client’s or organisation’s tax risks
Gather information from external sources to gain awareness and understanding of emerging issues that may impact on tax risks
Analyse key elements in draft tax policies, guidelines that have tax risks implications
Evaluate tax environment and tax risk framework for effective oversight
Review analyses and evaluate tax risks management reports
Identify the latest tax and tax-related developments locally and/or internationally and the possible impact to the client’s or organisation’s risk levels
Identify the key tax issues and latest developments to ascertain key tax risks areas to the business
Advise measures to overall manage the organisation’s tax risks
Evaluate reports and the overall business operations and strategies from a tax perspective
Advise the critical areas and risks trigger points
Review analyses and recommendations on draft tax policies and guidelines that have impact on tax risks