Community of Interest Series: Enhancing Reputational Risk Management
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Published 6 July 2020
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About
This report highlights the importance of reputational risk management in modern tax administration and sets out some key considerations as to how to identify and manage reputational risks. It also contains a set of tools to assist tax administrations in developing their capacity in this area including a maturity model which allows administrations to self-assess their current capacity and to identify areas for possible further development. The report has been produced by the FTA Enterprise Risk Management Community of Interest (COI). It is the first in an intended series of reports by the FTA's Communities of Interest which bring together experts to exchange views and work collaboratively on major themes of modern tax administration.
This work was led within the Enterprise Risk Management COI by colleagues from the Canada Revenue Agency. As noted in the report, managing reputational risk is hugely important in helping to achieve the objectives of tax administration and wider government, something which is particularly true in times of crisis. The key principles driving reputational risk are trust in the administration and its staff and respect towards the organisation. When an administration consistently abides by its ethical duties, it establishes trust in the eyes of taxpayers and other stakeholders. When it fails to meet the standards expected of it, particularly with respect to the fair and equal treatment of taxpayers, public trust and credibility can be quickly eroded.
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Further information
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