Irene Shen | KPMG | US

Irene Shen

Partner, Ignition

KPMG in the U.S.

Based in Silicon Valley, Irene is a member of KPMG’s Ignition practice, which is a national practice that specializes in tax transformation and technology. She is also the lead partner in charge of the Tax Application Integration service offerings within Ignition. In this national role, Irene manages a dedicated team of over 25 highly specialized professionals across the United States. In addition, Irene spent twelve years with KPMG’s Business Tax Services specializing in income tax accounting, tax compliance and tax consulting for the high tech industry and multinational public companies.

Professional and Industry Experience

Currently, Irene specializes in tax transformation of quarterly tax provision close processes, including implementation of third party software (e.g., ONESOURCE Tax Provision and CORPTAX Tax Provision), internally customized databases and complex Excel-based models. In addition, Irene leads KPMG’s SharePoint based tax portal solution to help companies manage processes, workflows, documents, data collection and analytics. Irene is experienced in transformation of operational transfer pricing, including implementation of transfer pricing policies to improve the integrity of intercompany accounting.

Irene’s main focus is on ASC 740 worldwide tax provision process re-engineering, and outsourcing assistance (preparation and/or review). Her experience in ASC 740 includes serving clients in both a consulting and audit capacity. Her other experience includes tax department assessment, transformation and enhancing tax policies and internal controls. Irene has extensive experience leading many large and complex client projects, for example:

  • Assisted a $35 billion financial institution to design, configure and deploy full service distributed workflow, document management, calendar and data collection solutions for the tax function. In addition, assisted the same company with optimization of tax provision software by re-engineering the entity schema and global tax provision reporting, as well as implementation of a tax data warehouse, robotic process automation and enhanced Excel based modeling to supplement third party solutions.
  • Assisted a $135 billion technology company with various tax transformation and technology needs, including dashboards design to provide real time status update and workload balancing in the tax compliance process, Excel based modeling for international tax calculations, process documentation for R&D credit process, as well as utilization of various technology tools to increase efficiency and augment team resources.
  • Led a target operating model project for a $85 billion financial institution to re-align its organization, process and technology based on leading practice guiding principles to improve tax department efficiency, including the integration of tax provision and compliance process on a legal entity basis for over 100 tax professionals
  • Advised on tax provision and operational transfer pricing process re-engineering. Managed large-scale implementation of vendor tax provision software and internally developed databases to increase efficiency in the quarterly close process for a $125 billion technology company
  • Provided tax provision and transformation assistance to multinational public companies, including technical analysis of ASC 740 issues, such as interim tax accounting, uncertain tax positions, stock based compensation, indefinite reinvestment of foreign earnings (APB 23), and purchase accounting for business combinations

Education and qualifications

  • Bachelor of Science with dual majors in Finance and Accounting from University of Pennsylvania, Wharton School of Business

  • Licensed CPA, California

Accreditation

  • Irene specializes in ASC 740 tax provision, tax technology, and transformation, as well as external audit review and federal tax consulting for multinational public companies.

Professional Associations

  • AICPA

  • CalCPA

Publications
Load more
Connections
Load more

Connect with me

 

Request for proposal

 

Submit