Scandals
KPMG
What is the name of the corporation from this case that employed a variety of tax avoidance strategies?
SABMiller
What type of account is allowance for doubtful accounts?
a contra-asset
It is a technique used to shift profits out of high tax countries and into tax havens
Transfer pricing
Which firm was accused of using Mauritius (location) to avoid hundreds of millions in tax
Deloitte
A tax strategy where a multinational corporation establishes a subsidiary in The Netherlands to hold all of its trademarks and brand names
"Going Dutch"
What type of ICFR opinion is issued if there is at least one material weakness?
Adverse
How many years did SABMiller escape paying taxes in Ghana?
3
What is the name of the scandal the involved the revelation of secret tax avoidance deals in Luxembourg that allowed multinational corporations to minimize their tax liabilities, sparking international outrage and calls for tax reform
LuxLeaks
Borrowing funds to finance capital projects from a sub located in a tax haven rather than using traditional lenders, the multinational not only lowers its tax burden, but it also avoids making interest payments to a 3rd party
Intra-company lending
Who said "nothing is certain except death and taxes"
Benjamin Franklin
What organization revealed SABMiller's tax avoidance strategies?
ActionAid
Which firm had a partner shift profit from the U.S. to Switzerland, through a fabricated story?
PwC
set up a subsidiary that offers “management services” in a country that does not tax revenues associated with such services
Management Fees in Switzerland
What is the equation of the inventory turnover ratio?
COGS / avg. inventory
What was the overall vision of SABMiller?
"to be the most admired in the global beer industry"
Name one of the singers involved in the PwC "paper shuffling" scandal.
Kenny Loggins ; Willie Nelson
a term used to describe countries like Bermuda and Mauritius that charge little to no taxes on corporations
Tax Havens
Who is one of the authors of The Big Four Book?
Ian Gow; Stuart Kells
The chairman of SABMiller said "We believe that the most effective way for SABMiller to meet its
sustainable development objectives is by...?"
maximizing the success of the business