Companies’ AI strategies should cover the technology’s use at both the enterprise and the individual level when it comes to tax governance, a UK tax authority official said Thursday.
Businesses’ use of AI is becoming a focus area for His Majesty’s Revenue and Customs in assessing their processes and internal accountabilities for managing tax risk, Sarah Osmond, HMRC’s audit and governance lead, large business, said during a webinar organized by KPMG.
Companies should consider creating policies to address possible knowledge gaps about how people within their tax teams are using AI, she said.
“One thing we can agree upon is ...