This company had experienced a significant amount of tax staff turnover due to company headquarters moving. Management saw the need to improve tax operations and agreed to conduct a “look back” review to recover any taxes available to be claimed. The company elected to bring in a Big Four firm to review their returns. The Big Four firm found a seven-figure refund in California due to a simple oversight by the preparer. Understanding Ashland’s depth of experience and previous success following a Big Four review, the automotive company felt that it might be worthwhile to have a specialized team conduct a more focused review. They chose to retain Ashland to see if we could identify any additional refunds.
The difference is the depth of experience. If I have a senior manager from the Big Four coming to see me, I know that person is probably 6 or 7 years out of school. They may have great experience and might be the brightest person in the world, but they're not going to have 30 years experience auditing fortune 50 companies.