Developed internal regulations of the risk management and internal control system

A team from the practice has prepared unified internal regulations of the risk management and internal control system in the head and subsidiary organisations of a major mining company.

Our lawyers analysed the current elements of managing risks in general and of tax risks, in particular, elements of internal control in general and internal tax control, in particular. The specialists of the practice developed a draft of detailed regulations on the management system for tax risks and internal control for tax monitoring purposes, including sections devoted to general provisions, the control environment, organisational structure, managing tax risks (with methodological and procedural approaches), internal tax control (with methodological and procedural approaches), and the monitoring, assessment and enhancement of the RM&ICS. Our lawyers’ tasks included analysing the specifics of the activities of subsidiaries, and devising separate approaches to the level of risk materiality and other risk parameters.

As a result, the client received a working document constructor that can be used by any company that joins tax monitoring.