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Article: As the Big 5 become multi-disciplinary practices, opportunities abound for tax executives.(Big 5 accounting firms)
- Article from:
- Tax Executive
- Article date:
- March 1, 1999
- Author:
CopyrightCOPYRIGHT 1999 Tax Executives Institute, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The transformation of accounting firms into multidisciplinary practices (MDPs) provides many opportunities for tax executives. The Big 5 are forcing more and more corporations to recognize that -- like cash management -- tax is a potential profit center. Because profit centers need to be managed, tax executives have increased opportunities to demonstrate the value of the tax department to their corporations.
Large accounting firms were the first to understand that tax work (that is, compliance work) needed to be complemented. Audit fees were fiat, in part because the consulting divisions of the accounting firms used audit fees as loss leaders. First, to obtain ...