Transfer Pricing Risk Management in China
2017.09.20
Some common trends that need to be considered and addressed by multinationals in China, including: •Functional and risk profile and economic outcomes not aligned The Chinese tax authorities often emphasize that the enterprise’s functional profile should match the economic outcomes it realizes. In some cases, a company performs R&D, manufacturing and local marketing and sales activities but is defined as a toll manufacturer, so only compensated with a low return on a cost plus...

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The Objectives and Benefits of an Internal Audit
2017.09.05
What is an internal audit? In general, an internal audit involves two major activities: 1. Obtaining an understanding of management's process for evaluating the effectiveness of the entity's internal control. 2. Performing procedures to obtain sufficient evidence about the design effectiveness and operating effectiveness of the entity's internal control. The Committee of Sponsoring Organizations (COSO) defines internal control as 'a process effected by an entity's...

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