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Intercompany accounting woes tallied in new poll

Tammy Whitehouse | August 19, 2016

Nearly half of 4,000 participants in a recent Deloitte webcast poll indicated their organizations are looking to achieve greater consistency in intercompany accounting, but they’re not there yet. Less than 10 percent said they have a well-developed intercompany accounting system that keeps track of transactions across related entities.

Intercompany accounting -- or the tracking of transactions across various legal entities that are tied into a larger organization -- is getting more critical as tax authorities around the world look to capture more tax on foreign earnings. Authorities in more than 100 countries are collaborating under the Organisation for Economic Development’s Base Erosion and Profit Shifting plan to implement new regulations and...

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