BlueAudit - overview
This is a project in which IBM Researchers are working in collaboration with IBM Finance, Intercompany tax and Internal audit and Investigations teams to streamline the tax transfer pricing and finance audit process for cross-border/intercompany agreements (ICAs). This will enable IBM or any other MNC to track expenses and documents related to the underlying source in an efficient and precise way and to enhance tax transfer pricing audit readiness, intercompany finance processes, and controls.
Apart from helping to defend cross-border service charges in audits by tracking and providing an immutable record of intercompany transactions along with all the evidence collected at the time when these transactions were carried out, the solution will also provide potential cost savings through
- standardization of intercompany practices
- reduction of the time spent by Financial Analysts in the process
- addition of analytics capabilities for Intercompany financial flows in a single "Dashboard"