Accounting & Tax Services for Public Companies
Specialized tax provision and corporate tax support for public companies in Canada, the U.S. and around the world.
IC Tax & Accounting Services provides specialized tax accounting and corporate tax services to public companies, including quarterly and annual tax provisions, deferred income tax calculations, financial statement tax notes and disclosures, and corporate tax compliance.
Quarterly & Annual Tax Provision Services
For public companies, income taxes are not simply a year-end compliance exercise. Tax provisions must be accurately prepared and supported as part of the quarterly and annual financial reporting process.
IC Tax provides tax provision support on both a quarterly and annual basis, including:
Current income tax calculations
Deferred income tax calculations
Deferred tax asset and liability continuity schedules
Analysis of changes in tax rates and tax legislation
Quarterly and annual income tax provisions
Preparation of financial statement tax notes and disclosures
Identification and analysis of temporary differences
Review of tax impacts arising from transactions and corporate reorganizations
Effective tax rate reconciliations
Tax loss carryforward and other tax attribute schedules
Supporting tax provision working papers
Assistance with external auditor questions and supporting documentation
Canadian & U.S. Tax Provision Expertise
We have particular expertise in Canadian and U.S. income taxation and can support tax provision requirements for both material and non-material Canadian and U.S. operations, including complex corporate structures and cross-border activities. We provide tax accounting support under IAS 12 – Income Taxes and ASC 740 – Income Taxes, depending on your applicable financial reporting framework.
Support for Multinational Groups
In addition to our Canadian and U.S. expertise, we assist multinational groups with tax provision calculations for non-material foreign operations in other jurisdictions. Our experience includes entities in Ireland, Hong Kong, India, Germany, Colombia and other jurisdictions worldwide. For jurisdictions outside Canada and the U.S., our involvement is generally limited to entities that are non-material to the consolidated financial statements.
Financial Statement Tax Notes & Disclosures
We assist with the preparation of quarterly and annual financial statement income tax notes and disclosures, including: Current and deferred income tax expense Components of deferred tax assets and liabilities Effective tax rate reconciliation Statutory-to-effective tax rate reconciliation Changes in deferred tax balances Other income-tax-related disclosures
Audit Support
We work with your finance team and external auditors throughout the quarterly review and annual audit process, including preparing working papers, responding to tax-related questions, explaining significant items and supporting tax rate reconciliations.
An Extension of Your Finance & Tax Team
- We become an extension of your team, providing the specialized tax expertise and capacity you need throughout the year.
Why Public Companies Work With IC Tax
- Specialized expertise in tax accounting and financial reporting
- Deep experience in Canadian and U.S. taxation
- Support for multinational groups with non-material foreign operations
- Quarterly and annual tax provision support
- Experienced tax professionals with public company backgrounds
- Flexible service tailored to your needs