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KPMG Launches Tax Governance Institute

by Leroy Baker, Tax-News.com, New York

08 January 2007


KPMG LLP, the audit, tax and advisory firm, has announced the establishment of the Tax Governance Institute, an open forum for board members, management, stakeholders, and government representatives to explore and debate aspects of tax oversight and management, including tax risk, control, and reporting.

The Tax Governance Institute's goal is to regularly bring together interested parties to discuss tax matters of common concern relating to day-to-day and long-term management of corporate tax risk through video and audio webcasts, roundtables, other events, and a website.

KPMG's Tax Governance Institute's inaugural event, 'Equity-based Compensation: Tax, Accounting and Security & Exchange Commission (SEC) Implications,' will take place on January 16, from 1 p.m. to 3 p.m. (EST).

The video Web cast will be moderated by Hank Gutman, principal in KPMG's Washington National Tax practice and former chief of staff of the Congressional Joint Committee on Taxation, who has been named to head the Institute, and will feature commentary from the following panelists: D. Keith Cobb, a former chief executive who serves on a number of corporate boards; Daniel L. Hogans, an attorney-advisor in the office of Benefits Tax Counsel at the US Department of the Treasury; Ronald Mueller, a partner in the law firm of Gibson, Dunn & Crutcher with a specialty in executive compensation issues, and former legal counsel to an SEC commissioner; and William Sweetman, an attorney with Groom Law Group and former Benefits Tax Counsel in the Office of Tax Policy, US Department of the Treasury.

"Tax risk is an increasingly important topic inside the C-suite and before corporate boards, because of its potential to affect so many areas of financial reporting," explained Shaun Kelly, KPMG's Vice Chair-Tax.

"The goal of KPMG's Tax Governance Institute is to foster discussion among various constituencies around issues of risk and control within and among corporations and their stakeholders as they strive to balance regulatory compliance, effective controls, and prudent business management," he added.

In his new role, KPMG's Gutman will work with the Institute team to identify key tax issues and help key stakeholders stay abreast of tax risk and governance issues important to them.

"Hank Gutman's long, varied experience in government and legislative affairs gives him a unique perspective on current and future issues surrounding efficient oversight and management of tax risk that will serve him well in his new role," Kelly said.

Commenting on his new role and the formation of the Tax Governance Institute, Gutman announced that: "I look forward to the challenge of providing a forum for the identification, discussion and potential resolution of emerging issues of tax oversight and management."

He added: "Our first session's focus on the tax, accounting and SEC ramifications of equity-based compensation illustrates our commitment to lead the way in identifying and providing the substantive background to engage our constituent groups in a meaningful discussion of timely topics. Additional, regularly scheduled events will be announced shortly."

The Institute's Web site will be a key component of the on-going dialogue that KPMG seeks to foster across many audiences. Features will include a regularly updated library of thought leadership and relevant business news, links to other sites of interest, and an interactive polling capacity to help gauge the marketplace's awareness of emerging topics.

"KPMG looks forward to bringing together all aspects of corporate governance through our Institute, creating a platform for valuable new ideas and approaches to the tax and reporting demands that enterprises face today," Kelly concluded.


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