Tax compliance – IDW practice statement 1/2016 adopted

The Institut der Wirtschaftsprüfer in Deutschland e.V. (Institute of Auditors in Germany) has adopted the IDW practice statement 1/2016. The draft of the practice statement on the structure and audit of tax compliance management systems according to IDW PS 980 as published on July 1st, 2016 has attracted wide interest within the professional practice. Comments and remarks from the accounting profession and other professional associations have been taken into account in the final version of May 31, 2017. They primarily concern clarifications and editorial adjustments.

Source: IDW