Under the Australian Local File requirements for Country by Country (CbC) Reporting, eligible Significant Global Entities (SGEs) are now required to report transfer pricing and business information electronically to the ATO via Standard Business Reporting (SBR) methods.

The data formatting, packaging and transmission complexities render Local File preparation and electronic lodgement extremely challenging for organisations relying on traditional business management software tools, particularly spreadsheets.

An automated software offering can significantly reduce the additional complexity, risk and increased administration time for the corporate tax manager.

Enter “Bob the bot” for CCH Integrator.

The integration of robotics and further automated workflow within CCH Integrator is designed to streamline these manual operations and counter any possible workload increases for Australian Local File reporting, potentially by up to 30 days.

Bob can:

  • be taught to automate routine data transformation tasks, taking data from one format to another, which is commonly required in compliance and regulatory reporting.
  • transform, cleanse, filter, enhance, summarise and validate transactions for Local File disclosures.
    Teaching Bob how to transform the data reduces key person dependencies and improves the audit trail of how disclosures have been prepared.

Find out more about how robotic data transformation can help your company.