UNIT 2: TAX RISK ASSESSMENT

This unit focuses on the methodologies and tools used to identify, evaluate, and prioritise tax risks within an organisation. It emphasises the importance of understanding the financial, operational, and reputational impacts of tax risks, and provides practical techniques for conducting comprehensive tax risk assessments.

This unit aims to equip participants with the skills necessary to effectively assess tax risks and integrate these assessments into broader risk management and strategic planning processes.

On successfully completing this unit, the participant will be able to:

• Identify various types of tax risks – including financial, operational, and reputational risks.
• Apply the methodologies and tools used to evaluate and measure the impact of tax risks.
• Learn to prioritise tax risks based on their potential impact and likelihood, ensuring effective resource allocation.
• Understand how to assess the financial, operational, and reputational consequences of identified tax risks.
• Integrate tax risk assessments into broader organisational risk management and strategic planning processes.
• Apply assessment techniques through case studies to enhance practical understanding and problem-solving abilities.
• Improve the ability to communicate the findings of tax risk assessments to stakeholders clearly and effectively.