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Global Reporting Risks Rise

Cash-strapped countries step up audits, while some companies come up short on local expertise. (Steven Shultz of E&Y)

By Dave Lindorff | Updated on August 15, 2011

Large global companies recognize that global compliance and reporting (GCR) risks are increasing, as many countries rewrite their tax codes, step up audits and focus more on tax collection, even as there are also dramatic changes in financing models.

Yet many of these same companies are not taking the opportunity to transform their global compliance and reporting systems, and in some cases are even overlooking “many essential subprocesses” such as the flow of financial data to GCR systems, according to a new report on global compliance and reporting from Ernst & Young.

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