Accounting & Taxes

Tax and accounting consulting services encompass a wide range of financial advisory and compliance support. Assistance is provided for tax return preparation, verification, and reporting, aiming to reduce tax risks and minimize burdens in accordance with tax legislation. Accounting consulting services offer detailed explanations and recommendations to ensure compliance with the latest accounting standards, including consolidated financial statements and US GAAP.

Guidance on adopting new accounting standards includes providing information on tax reforms and regulatory changes while supporting companies at various stages of implementation. Audit advisory services help businesses respond efficiently to external auditors by reviewing claims related to accounting rules. Additionally, tax planning and consulting services include accurate profit and loss forecasting, enabling businesses to anticipate future tax liabilities while optimizing tax benefits within regulatory frameworks.

For companies operating internationally, support is available for the calculation of foreign tax benefits, tax return preparation, strategic advice on tax havens, and guidance on transfer pricing. Workflow optimization focuses on enhancing efficiency and streamlining financial processes. To accelerate monthly and annual account closures, recommendations are provided for smooth execution or partial outsourcing of financial tasks. Finally, detailed tax and accounting reports are prepared in alignment with industry standards, ensuring well-informed management decisions.

Tax & accounting consulting is a subcategory of the broader consulting industry, specifically within financial advisory, which holds approximately a 30% share of the overall consultancy market.

Main trends in the tax & accounting consulting industry:

1. Cloud services simplify access to accounting information and make accounting processes more efficient. A significant amount of data, which can be used for future business decisions, is already stored in the company's database in the form of tax returns. With the development of cloud accounting, intelligent forecasting software has emerged, enabling accounting companies to provide high-quality advisory services.
2. Accounting can now be fully automated with minimal physical intervention, potentially reducing the demand for consulting services.
3. Accounting software facilitates the integration of accounting functions across all business areas, leading to better transaction management and timely recording of entries.
4. Accounting standards are constantly reviewed and updated, requiring accounting professionals to keep up with changes that occur more rapidly than before.