We can offer more than traditional tax compliance; for example, the disciplines and rigours that go with an audit assessment. It is important that any such assignments meet the new standards on independence and there are many times when the skills of the auditor are invaluable in carrying out financial due diligence assignments on acquisitions.
- Q.
- Is it possible for clients to use their international audit firms to undertake their UK tax compliance work?
- A.
- In the post-Enron world where Sarbanes-Oxley and new International Standards of Auditing are beginning to make their mark in the public environment, it's becoming increasingly clear that separating the audit function from the tax and other compliance work, which can be undertaken by specialist firms like WSM Property, reduces risk for the senior management teams.