Leveraging BDO’s Global Resources and Total Tax Mindset Helped Stabilize an International Company’s Tax Department

Top 3 Areas of Impact

Stronger internal controls and processes.

Enhanced procedural efficiency and timely completion of the company’s quarterly and year-end tax provisions.

Versatile outsourcing model that includes industry-savvy professionals.

Summary

A medical device manufacturer with a significant international presence faced unique challenges in its tax function. An already complex tax environment was further complicated by staff shortages and limited resources. BDO stepped in to assist the company in stabilizing its tax function and meeting regulatory reporting deadlines. BDO and the company formed a strong working relationship that has continued to grow as a result of the company’s access to BDO’s global resources and total tax approach. 

INDUSTRY
Life Sciences, Manufacturing
SERVICES PROVIDED
Income Tax Accounting (ASC 740), Transfer Pricing, Tax Risk Services, Tax Automation & Innovation, 

Two people in a manufacturing facility.

Challenge

This multibillion-dollar company leverages goods and services across more than 50 countries and is involved in a large number of intercompany transactions. It faced challenges in several key areas, including income tax accounting, tax operations, and transfer pricing. To effectively manage the complexity and volume of work, the company required additional resources, a more solid foundation for its tax function, and enhancements to its internal control framework. 

Results

Our client faced complex challenges related to the effectiveness of its tax function and with its year-end tax provision/close. Even though it now has its own robust tax internal controls and a well-organized return preparation and financial reporting function, the client continues to rely on our national and global resources under a co-source model.
Michael Williams
Tax Principal, National Practice Leader Income Tax Accounting (ASC 740) and Tax Risk Services