KPMG’s survey results on bank, asset management, and insurance professionals bringing organizations into compliance with Common Reporting Standard.
In an effort to shed light on the extent and impact of the Common Reporting Standard (CRS) on bank, asset management, and insurance professionals working to bring their organizations into compliance, KPMG LLP conducted a survey of global tax and compliance professionals from the financial services industry.
Introduced by the Organization for Economic Co-operation and Development (OECD), the CRS creates a globally coordinated and consistent approach to the disclosure of financial accounts held by nonresident account holders. The CRS is a far-reaching international standard that almost 100 jurisdictions have committed to implement with 50 "early adopter" jurisdictions agreeing to begin implementation in 2016.
* Based on the 43 individuals surveyed who stated their company was either headquartered, or does business in Canada.