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Challenges of Transparency in Corporate Tax Departments, The

CPA Journal, The, Oct 2007 by Cowan, Mark J, English, Tom

Corporate tax departments are in a bind. They must provide their auditors with the tax exposure information required by FIN 48 in order to ensure an unqualified opinion. Withholding information from the auditors to keep it safe from IRS scrutiny is clearly not an option. Corporate tax departments need to keep this risk on their crowded radar screens, monitor IRS activity and the Textron case, and collectively urge the IRS to maintain its historic restraint.

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Mark J. Cowan, JD, CPA, is an assistant professor of accountancy, and Tom English, PhD, CPA, is a professor of accountancy, both at Boise State University, Boise, Idaho.

Copyright New York State Society of Certified Public Accountants Oct 2007
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