Date Added: Jul 2009
With the acquisition of a U.S. electricity and gas company, a leading international energy company was faced with major staffing issues in its tax department. This scenario was made more challenging by the fact that this staff shortage was happening at a time when the organization had to address additional compliance requirements and needed immediate support to complete tax-provision calculations. For a quick resolution, this energy company sought assistance from Deloitte, a leading business consulting solutions provider. Working closely with the company, Deloitte Tax team was able to provide a level of support that could address the company's growing tax support needs - first in the areas of compliance and tax provision, and then into other high-visibility areas. Making use of its internal resources with specific experience in the utility industry as well as International Financial Reporting Standards (IFRS), focused on delivering essential hands-on support and strategic guidance as the company ramped up its staffing efforts. Based on the success of the initial engagements, the company engaged Deloitte Tax to take on additional, more complex tax projects. After assisting the company with staffing and project-delivery concerns, Deloitte provided valuable recommendations for process improvements as well. in addition, Deloitte's day-to-day support allowed the company's new tax director to quickly obtain a firm understanding of the company's critical tax issues, and to focus on the company's big-picture tax issues on both a domestic and global basis.