April 12, 2022
Australia’s Top 1,000 Combined Assurance Program: the evolving need for strong governance in tax
In this article, the first in a series on the topic of tax governance, Fiona Moore, EY Oceania Tax Policy & Controversy Leader, sets out how Australia's Top 1000 Combined Assurance Program works in practice.
One of the most advanced, comprehensive programs of its type, the Australian program is representative of a new breed of compliance assurance approaches increasingly being adopted by revenue authorities around the world.
Within these programs – some mandatory, others voluntary – companies must demonstrate not only that their numbers are right, but how they got to those numbers in the first place, demonstrating that their governance over tax is in place, adhered to and effective.
The article highlights a series of insights for companies preparing for the program to be aware of, as well as questions to ask themselves during the preparation stages.