With increased focus in the area of tax among different authorities around the world, being compliant and to have accurate and correct tax reporting mechanism is one of the key measures for success of any organization’s financial risk management program. Organizations with global operations running across multiple business lines need to devise move effective ways of consolidating & analyzing tax related risks reported in multiple currencies.
The Tax Risk Management app-pack developed by HCL provides a systematic and automated way to perform Tax Risk reporting and analysis for managing its tax obligations effectively and minimize any adverse impact on their reputation, income statements and profitability.
The HCL Tax Risk Management app-pack provides ability to perform following functions as a part of any organization’s tax risk management process enabling risk analysts and coordinators to:
- Perform quarterly tax risk assessments at entity/division levels.
- Roll up assessment results to country and group company levels.
- Report & analyze on tax risks in local and group currency.
- Trend analysis on historical risk data with ability to quantify changes due to currency fluctuations and other risk attributes.
- Systematic and streamlined risk reporting and analysis mechanism with holistic view of organizational tax risk exposure at multiple levels.
- Engagement of highly skilled workforce in data analysis and risk assessment rather than manual data gathering.
- Aid to taking financial decisions like hedging against currency fluctuations.
The offering can also link tax risks to existing risks via a cross-reference to the Risk Register application available within the RSA Archer Risk Catalog use case.
Supported Platform Version
The HCL Tax Risk Management app-pack was developed for and validated on RSA Archer Platform release 6.5 P2+.
RSA Archer On-Demand Application (ODA) Licenses
Four (4) RSA Archer On-Demand Application (ODA) licenses are required for the HCL Tax Risk Management app-pack. One (1) optional ODA license is also recommended for this offering.
Two (2) questionnaires are required for this offering. This requires a licensed use case that enables questionnaires in order for these questionnaires to function.
Additional licensing fees will also apply. To learn more, please contact HCL Technologies at CFS-GRC-PMG@hcl.com.
For More Information
To learn more about the HCL Tax Risk Management app-pack:
- Review the Implementation Guide; and
- Learn how to obtain the HCL Tax Risk Management app-pack Installation Package.