Improving workpaper tools and processes may help to alleviate the most urgent workflow challenges tax professionals face at large U.S. corporations, a new survey finds.
More than 92% of corporate tax accountants consider workpapers critical or very important for supporting the overall tax lifecycle. However, only 36% of tax accountants expressed satisfaction with their current processes and tools for preparing and reviewing workpapers.
The survey further explores the prevalence of challenges preparing and reviewing tax calculations in workpapers, including the need to keep calculations up to date with the latest tax law and to support calculations for internal and external review. Read more.