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Corporate Tax Governance: What's the Problem?

As tax professionals charged with managing the complex tax operations of today’s multinationals, success used to require an undaunting focus on tax: staying current with federal, state and international tax laws, finding and implementing creative ways to apply those laws in order to reduce global taxation, identifying and managing the related tax risks and rigorously defending the company’s tax positions. 

With SOX, that world was overturned. Where he/she could hide in the corner office and focus solely on designing and implementing tax structures to minimize global income taxes, now he/she is more visible to the CFO, CEO and Audit Committee and must focus on accurately accounting for income taxes and the internal controls surrounding this process.