Fundamental ethical principles do not generally change, but the context in which tax advisers must assess their duties does. Changes in the business, economic and political world pose challenges for tax advisers who must interpret their ethical duties and obligations in new circumstances. In the second decade of the 21st century we see: (1) tremendous internationalization of business (a taxpayer need not be a multinational to engage in cross border commerce); (2) back-office functions regularly performed offshore; (3) increasing audit activity outside the U.S.; (4) global focus on information sharing and disclosure; (5) new interest in whistleblowing; (6) the rise of social media; (7) increasing interest by bar associations in pro bono obligations; and (7) and the growing role of electronic technology. These developments generate broader questions regarding: (1) the risks and benefits of advances in technology and communication; (2) how to advise clients in the face of increasing disclosure and reporting requirements; (3) the implications of a multinational legal practice; (4) the tensions at play in tax planning, minimization, and avoidance; and (5) ethical obligations to foreign jurisdictions. Drawing upon a range of experiences and perspectives, this panel will explore the pressing ethical challenges facing the contemporary tax adviser.
Business meeting at program conclusion.