top of page

brisbane • sydney • melbourne


A collection of updates, articles and papers written by The Little CFO & The Little CFO Legal

Directors: Tax risk management and governance review - ATO best practice benchmarks

Good corporate governance should integrate tax risk management at all levels of decision making.

The ATO has developed a 'guide' aimed toward large and complex corporations, tax consolidated groups and foreign multinational corporations conducting business in Australia.

The guide is intended to provide directors with the ATO's best practice benchmarks so that directors may:

- Develop or improve their own tax governance and internal control framework;

- Test the robustness of the design of their framework against the ATO's best practice benchmarks; and

- Understand how to demonstrate the operational effectiveness of their key internal controls to their stakeholders, including the ATO.

Topics covered in the guide include:

- Director's summary

- Board-level responsibilities

- Managerial-level responsibilities

- Tax control frameworks for medium and small corporations

- How to test controls

- Self-assessment procedures for reviewers

What is tax risk? The risk that companies may be paying or accounting for an incorrect amount of tax; or The risk that tax positions a company adopts do not align with the tax risk appetite that the directors have authorised or believe is prudent.

Read more:


Disclaimer​: Information on this website is of a general nature and is not to be relied upon as legal, financial, accounting, or other professional advice as the information provided does not consider your objectives, financial situation or needs. You should seek legal, financial, accounting, and such other professional advice as necessary or appropriate before making any financial, legal, or other decision. The Little CFO, The Little CFO Legal, their owners, affiliates, and the authors of the content & copy accept no responsibility, or any form of liability, arising from any reliance upon, reproduction or use of any information on this website, including where same is then shared in another format.


Should you require advice please connect with us so that we may provide advice tailored to suit your specific circumstances.

bottom of page