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Corporate Tax Provision: Want To Know What Financial Statement Auditors Have Increased Their Focus On? | TaxConnections
It is a privilege to have the opportunity to learn from one of the most knowledgeable corporate tax provision instructors in the country. TaxConnections brings you another webinar on the corporate tax provision with Nick Frank, Tax Prodigy CEO as the instructor. With the enactment of the Tax Cuts And Jobs Act there are three areas that tax professionals need to prepare and focus on since there is increased focus from auditors. We know this because we are talking to companies who are informing us of these trends. Here are three areas Nick will prepare you for given the increased attention by the Auditors on them: Uncertain Tax Benefits - Expect more uncertain tax benefits arising from the uncertainty around the operation of the new law. States - States are going to be more significant and there will be more variation between states as they adopt different parts of the Tax Cuts And Jobs Act. SOX Controls - For most companies, the Tax Cuts And Jobs Act will cause the most significant changes in the process ever. Companies need to demonstrate that adequate controls are in place and that changes were made appropriately and accurately.