Tax can represent over 40% of reported corporate earnings, but tax systems were highlighted as having the largest number of internal control weaknesses in the first year of audit reports under Sarbanes-Oxley. Lyon Solution Services has launched a new service to help big business meet tax compliance obligations and streamline tax operations to provide timely and accurate tax data to support critical business decisions.
Sydney, NSW 23 September 2006 — In response to growing demand, Lyon Solution Services Pty Limited (LSS) has launched an independent service for large corporates seeking to streamline and control their corporate tax reporting and compliance operations.
Managing Director, Duncan Lyon explains “The recent transition to IFRS and the drive to comply with Sarbanes-Oxley and other corporate governance regulations have highlighted major internal control weaknesses and inefficiencies in the tax reporting and compliance functions of many large corporations.
Also, in-house corporate tax groups often struggle to provide timely and accurate tax information to Group Finance and the Board to support critical business decisions. Group Tax Managers lack the time, resources and specialist skills needed to address these concerns.
LSS provides the expertise and resources to transform group tax teams into responsive and efficient operations. LSS adopts a strategic approach by working with key stakeholders to determine priorities and deliver the most effective solution for each business.”
Lyon notes that operating separately from the Big 4 Accounting Firms “allows us to offer a personal and economical service without concern for audit independence conflicts.”
LSS draws on over 20 years’ experience in working with the Big 4 Accounting Firms and large business in designing and supplying tax technology and process solutions.
About Lyon Solution Services
Lyon Solution Services Pty Limited was founded by Managing Director, Duncan Lyon. LSS works with large corporations to streamline and control their group tax operations by improving tax processes and systems, evaluating, selecting and rolling out effective technology solutions. LSS is based in Sydney, Australia. For more information, please visit www.lyonsolutions.com.au.