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Achieving Tax Compliance Under Sarbanes-Oxley
Tax can
represent over 40% of reported corporate earnings, but tax systems
were highlighted as having the largest number of internal control
weaknesses in the first year of audit reports under Sarbanes-Oxley.
Lyon Solution Services has launched a new service to help big
business meet tax compliance obligations and streamline tax
operations to provide timely and accurate tax data to support
critical business decisions.
Sydney, NSW 23 September 2006 -- In response to growing
demand, Lyon Solution Services Pty Limited (LSS) has launched an
independent service for large corporates seeking to streamline and
control their corporate tax reporting and compliance operations.
Managing Director, Duncan Lyon explains "The recent transition to
IFRS and the drive to comply with Sarbanes-Oxley and other corporate
governance regulations have highlighted major internal control
weaknesses and inefficiencies in the tax reporting and compliance
functions of many large corporations.
Also, in-house corporate tax groups often struggle to provide timely
and accurate tax information to Group Finance and the Board to
support critical business decisions. Group Tax Managers lack the
time, resources and specialist skills needed to address these
concerns.
LSS provides the expertise and resources to transform group tax
teams into responsive and efficient operations.
LSS adopts a
strategic approach by working with key stakeholders to determine
priorities and deliver the most effective solution for each
business."
Lyon notes that operating separately from the Big 4 Accounting Firms
"allows us to offer a personal and economical service without
concern for audit independence conflicts."
LSS draws on over 20 years’ experience in working with the Big 4
Accounting Firms and large business in designing and supplying tax
technology and process solutions.
About Lyon Solution Services
Lyon Solution Services Pty Limited was founded by Managing Director,
Duncan Lyon. LSS works with large corporations to streamline and
control their group tax operations by improving tax processes and
systems, evaluating, selecting and rolling out effective technology
solutions. LSS is based in Sydney, Australia. For more information,
please visit
www.lyonsolutions.com.au.
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