PWC has strengthened its tax reporting practice with the acquisition of Selera Labs, a data technology firm.
The acquisition comes at a time when tax authorities around the world are requiring increasing amounts of data from organisations.
Selera Labs’ technology platform, Data Ignition, monitors logistics and transactional data, which will boost PwC’s tax reporting capabilities.
Data Ignition will provide end-to-end monitoring of clients’ financial transactions in multiple territories, flagging any inconsistencies, and offering real-time visualisation along the audit trail to help clients with tax compliance and reporting rules, PwC said.
As part of the acquisition the founder of Selera Labs, Michael Lawler, will join PwC as a partner. Nine Selera Labs employees will also join PwC.
Kevin Nicholson, head of tax at PwC, said: “This acquisition will further strengthen our tax reporting and analytics services. Organisations are looking for efficient technology solutions to help comply with new and changing reporting requirements. The innovation that Data Ignition brings could be a game changer for tax compliance.”
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