With more than 200 participants attending in person, plus over 100 more joining online, the IDW Annual Congress last Thursday and Friday was a hive of activity. In the first of several firsts, this year’s congress took place not in Baden-Baden, as in previous years, but in the federal city of Bonn. In another first, hsp joined the ranks of the 20 exhibitors for the very first time. And as a third first, the Solon-X platform was launched.
Whether you’re an entrepreneur, a tax adviser or a chartered accountant – digitalisation is an issue that affects us all. To provide the auditing sector with suitable solutions and tools for the tasks at hand, the IDW is launching the Solon-X platform on 4 October 2021. On this platform, auditors will present solutions developed specifically for their own sector.
The TCMS module
hsp will also be on board, along with the Opti.Tax module Tax Compliance Management System (TCMS) introduce a solution that was developed in collaboration with the auditors and tax advisers of the W+ST Group. During discussions between participants at the annual congress and Samuel Königshoven and Paul Liese, it became clear that the profession is urgently seeking a solution to the issue of TCMS. Existing tools usually address only some of the seven pillars set out in the IDW’s practical guidance.
In contrast, hsp offers a comprehensive solution that draws on the specialist expertise of Andrea Treib (Board Member, Chartered Accountant, Tax Adviser, Partner at the W+ST Group) and her team. The TCMS tool combines the technical design of a Tax Compliance Management System with the leading technology from Opti.Tax. Early adopters have expressed their satisfaction following the implementation of several TCMS projects. In particular, the comprehensiveness of the topics covered, as well as the system’s practical relevance and user-friendliness, have been repeatedly highlighted.
Transfer pricing with Opti.Tax
As a further module, hsp offers chartered accountants the opportunity to explore the topic via the Solon-X platform: Transfer pricing documentation (Transfer pricing) with Opti.Tax. The module sets new standards in transfer pricing documentation and is unique on the software market. This result was made possible through close collaboration with Tobias Polka (board member, chartered accountant, tax adviser and partner at ADKL) and his team, both during development and in practical testing.
Users are guided step-by-step through the process of creating the documentation. This makes the work much easier, particularly when getting started. Currently, the vast majority of professionals in the sector use standard Office programmes to create transfer pricing documentation. Even getting started is made difficult by the all-too-familiar blank page. As the documentation progresses, formal errors, missing or contradictory entries are not automatically detected and flagged by the software. This creates numerous potential points of criticism during the next tax audit. The hsp solution, on the other hand, checks the documentation for plausibility and includes a number of supportive functions.
What both of these innovative hsp modules have in common is that the firm’s clients are actively involved in the preparation of the documentation. This eliminates disjointed communication and ensures that scarce resources are utilised more effectively in coordination with and amongst clients. hsp will shortly be making further functions available via the Opti.Tax Cloud to transform today’s static documentation into permanently up-to-date, dynamic documentation that delivers added value.
The Solon-X platform can be accessed via the URL www.solon-x.de be available.
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