Ed Shorrock Talks to Accounting and Business Magazine

Ed Shorrock, Director in Duff & Phelps’ Compliance and Regulatory Consulting practice, was quoted in an article by Accounting and Business Magazine discussing the pressure finance institutions and taxpayers have been put under, since the Common Reporting Standard (CRS) paved the way for global tax transparency.

The result of which, has been the collection of massive amounts of data by financial institutions to feed to the tax authorities “It has been extremely labor-intensive. The principal challenge has been technology. Banks may have legacy systems in place with bits of data in different places. You may have anti-money laundering information in another system. There has been a fair amount of expense from technology and labor perspectives,” Ed said. 

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