Digitalization of tax offices in
most developed and developing countries is evolving the role of tax auditors.
They are increasingly providing advisory and taxation guidance as well as
traditional filing and lodging services which have become less important with
the growth of e-filings. For instance, the Australian Tax Office will now allow
e-tax. This will reduce the manual processing of data and make the tax return
process easier allowing tax auditors to focus on high end tasks.
THE
BUSINESS RESEARCH COMPANY VALUED THE GLOBAL
TAX AUDIT SERVICES MARKET AT $32 BIILLION IN 2017
North America was the largest
geographic region in the market, accounting for more than one-third of the
global market.
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The chart below shows the
year-on-year growth of the global tax audit services market during 2017 – 2021
According to The Business
Research Company’s Consultant, Nitin Gianchandani, tax analytics is a broad
area that spans from business intelligence self-service to tax dashboards,
benchmarking, tax planning and provisioning, prescriptive analytics and
advanced decision support in the form of artificial intelligence and machine
learning systems. Data is a huge and growing asset that most businesses are
challenged now to transform into a powerful strategic tool. So, companies can
automate the tax classification work that currently takes the team thousands of
hours to complete.
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PwC was the biggest player in the
tax audit services market, with revenues of $28 billion in 2016. PwC’s growth
strategy is to become a technology-enabled organization by 2025, by digitalizing
its business and its services by working with companies such as Google, Oracle
and Microsoft. Going forward, PwC seeks on adding new services of IT and data
assurance and security and acquire new clients from mature as well as
developing markets.
The tax audit services market includes
tax audits which are conducted to assess the accuracy of the tax returns filed
by a company and are therefore used to determine the amount of any over or
under assessment of tax liability towards the tax authorities.
Tax Audit Services Global Market
Report 2018 is
a detailed report giving a unique insight into this market. The report is
priced at $4000 for an individual user. To use across your office, the price is
$6000 and $8000 if you wish to use across a multinational company.
About
The Business Research Company
The Business Research Company is a
market research and intelligence company, which excels in company, market and
consumer research.
It has research professionals at its
offices in the UK, India and the US as well a network of trained researchers
globally. It has specialist consultants in a wide range of industries including
manufacturing, healthcare, chemicals and technology.
The Business Research Company's
management has more than 20 years of varied business research experience. They
have delivered hundreds of research projects to the senior management of some
of the world's largest organizations.
Contact Information.
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Business Research Company
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