eBrief: Pay Less Tax By Improving Your Firm's Internal Reporting

This is an eBrief by CFO Innovation, sponsored by Chicago Booth, that discusses what companies can do to pay less tax.

By using a measurement system called Internal Information Quality (IIQ), a company can check the quality and ease of access of information within the firm. 

A company's IIQ rate is determined by four data measurements:

  1. The speed at which management released an earnings announcements after its fiscal year closed
  2. The accuracy of management's earnings forecasts
  3. The absence of material weaknesses in internal controls
  4. The lack of restatements due to errors

High IIQ companies tend to earn from its transparency by finding better ways to lower their taxes. 

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