Are public projects doomed to failure from the start? – Transformation Assurance

Public projects have a bad reputation. Is it deserved, or more a matter of expectations and the way success and failure are defined? In this critical review we take a close look at what makes public-sector IT and transformation projects different from those in other areas, the specific challenges they face, and tried-and-tested approaches to making them a success. Read more…

Contact

Marc Lahmann
Director and Leader Transformation Assurance
+41 58 792 27 99
marc.lahmann@ch.pwc.com

SWIFT Customer Security Programme – mandatory specifications to protect your local SWIFT infrastructures

The growing number of cyber-attacks, including those on the local infrastructures of SWIFT participants, has prompted SWIFT to create a security programme for its participants in order to fight together against cyber threats.

SWIFT published its Customer Security Programme in April 2017. It defines specific requirements to be met by all connected participants. The programme aims to improve the exchange of information within the SWIFT community, to ensure a high level of security for the local SWIFT infrastructure of participants, and to put in place an assurance framework to counter the ever growing number of cyber threats and strengthen the ability of SWIFT participants to combat cyber-attacks.

SWIFT Customer Security Programme

The programme calls upon all SWIFT participants to implement a control and assurance framework. The control framework consists of a set of 16 mandatory and 11 advisory security controls. The controls are based on existing SWIFT security guidelines, and are in line with good practice standards such as NIST, ISO/IEC 27002 and PCI-DSS. The mandatory controls establish a security baseline for the entire SWIFT community. SWIFT also recommends implementing the advisory controls to provide optimal protection for local SWIFT infrastructures.

Demands placed on SWIFT participants

The SWIFT Customer Security Programme will come into force on 1 January 2018. As well as applying to financial service providers, it is also valid for all companies that participate in the SWIFT network. Before the introduction of the programme, each SWIFT participant must conduct a self-assessment and notify SWIFT of its status regarding compliance with the controls (by the end of 2017). From 2018, all participants must confirm their compliance with controls on an annual basis. This confirmation can be provided via a self-assessment (self-attestation), internal audit (self-inspection) or external audit (third-party inspection). Participants are free to choose the type of confirmation they wish to submit. SWIFT will however also carry out regular spot checks of confirmations via internal or external audits for quality assurance purposes.

SWIFT participants must consider the following points in particular:

  • Should only the mandatory controls be implemented, or also the advisory ones?
  • How should the assurance framework be structured? Is self-assessment sufficient, or should an internal or external audit be conducted on a regular basis?
  • Should the status regarding compliance with controls be made public to other SWIFT participants?
  • How can it be ensured that controls continue to be adhered to in the future?

The support we offer you

SWIFT Readiness Assessment

We can help make sure you comply with the SWIFT requirements by 1 January 2018 by assessing your current status and highlighting any gaps.

SWIFT control support

We can provide support for the implementation of controls by means of a post-implementation review.

SWIFT compliance confirmation

We can assist you with your annual confirmation of compliance with SWIFT requirements.

Please feel free to contact our experts if you are interested in the topic.

More information

Contacts

Jens Probst
Director, Systems & Process
Assurance
+41 58 792 29 59
jens.probst@ch.pwc.com

Claudia Hösli
Senior Manager, Specialist Cyber Security
+41 58 792 14 85
claudia.hoesli@ch.pwc.com

Marco Schurtenberger
Senior Manager, Specialist Cyber Security
+41 58 792 22 33
marco.schurtenberger@ch.pwc.com

Switzerland: New social security treaty between Switzerland and China

A social security treaty between Switzerland and the People’s Republic of China (China) will enter into force on 19 June 2017. The maximum posting period is 72 months. For the duration of the posting employees (regardless their nationality) are exempt from the compulsory insurance obligations of the country of occupation which are covered in the social security treaty. As from 19 June 2017 it will be possible to obtain a Certificate of Coverage.

 

Click here for more details

 

Contact

Véronique Schaller
+41 58 792 5036
veronique.schaller-wiesli@ch.pwc.com

Natalia Graf
+41 58 792 4324
natalia.graf@ch.pwc.com

 

Webinar: How US tax reform impacts Switzerland

Wednesday, 3 May 2017, 4–5pm CET

US tax reform is one of the key topics in the US under the Trump administration. Various proposals are being discussed and prepared − notably measures with the common goal of making the US corporate tax system more competitive. Given the potential magnitude of the proposed changes and the short timeframe within which legal changes are usually implemented in the US, it’s time to consider what US tax reform could mean for Switzerland and Swiss-based companies that do business in the US.

This webinar addresses questions such as:

  • How is the US tax system unique?
  • What’s involved in the process of transforming tax reform into US law?
  • What are the options for tax reform, and how do they compare and contrast (Camp plan, Trump proposal, Republican blueprint)?
  • What are the consequences for Swiss companies doing business in the US (e.g. interest deducibility, treatment of intangibles, state taxes and border adjustment tax)?
  • What impact will US tax reform have on the Swiss tax reform?

To register for the online event, please click on the link below.

WEBEX LINK

Once you have registered, you will receive the WebEx access details. The WebEx will be recorded and you will receive a link to the recording via e-mail after the event using the same details. There will be time for questions and answers with your speakers during the WebEx. Questions can also be sent in advance of the WebeX session to the following email address: rolf.j.roellin@us.pwc.com.

We do hope that you will join us online!

If you have questions, please contact your usual PwC contact person or one of our US tax experts named below.

Matina M. Walt
Partner
Swiss Tax Desk
PwC New York / Switzerland
martina.m.walt@us.pwc.com

Bernard Moens
Principal
PwC US
bernard.e.moens@us.pwc.com

 

Event series − VAT in ERP systems: how does it challenge IT, the Tax Administration and tax experts?

Register Online to our upcoming series of events on VAT in ERP systems: how does it challenge IT, the Tax Administration and tax experts?

ERP systems are often not equipped to handle the complex requirements of VAT correctly, flexibly and efficiently without extra work or manual intervention.

The legal requirements are constantly changing, and on the basis of the OECD guidelines many countries are exchanging data or demanding evermore detailed information from taxpayers. Organisations are well on the way to transparency.

At these events we’ll be discussing the views of our clients, looking at the different needs of the IT and tax functions, and finally sharing some insights from the Tax Administration.

The aim of the events is to talk about experiences and needs, learn from each other, and build ‘best practice’ together. If required this dialogue can be continued afterwards within our “ITX ERP Support Community”. In the beginning, the questions and the coordination of the same language in the cooperation of the tax and IT department are at the company’s disposal. Our discussions will revolve around the issues that organisations face and creating a common language enabling the tax and IT functions to work together.

Have we piqued your interest? We look forward to welcoming you to one of our discussions.

The dates are planned as follows:

Zurich

  • Wednesday, 31 May 2017, 4.30 pm registration / welcome drink
  • 5.00 pm start, 6.00 pm end, followed by an apéro and individual discussions and questions
  • PricewaterhouseCoopers AG, Birchstrasse 160, 8050 Zurich

Berne

  • Tuesday, 6 June 2017, 4.30 pm registration / welcome drink
  • 5.00 pm start, 6.00 pm end, followed by an apéro and individual discussions and questions
  • PricewaterhouseCoopers AG, Bahnhofplatz 10, 3001 Berne

Geneva

  • Thursday, 15 June 2017, 4.30 pm registration / welcome drink
  • 5.00 pm start, 6.00 pm end, followed by an apéro and individual discussions and questions
  • PricewaterhouseCoopers AG, Avenue Giuseppe-Motta 50, 1211 Geneva
  • This event takes place in English. To discuss your questions, local PwC colleagues will be at your disposal

Basel

  • Thursday, 22 June 2017, 4.30 pm registration / welcome drink
  • 5.00 pm start, 6.00 pm end, followed by an apéro and individual discussions and questions
  • PricewaterhouseCoopers AG, St.Jakobs-Strasse 25, 4002 Basel

The detailed programme has been published on our website www.pwc.ch/vat-erp. We are looking forward to your registration.

If you have any questions, please get in touch with your usual PwC contact person or one of the experts below

Your contacts

Ilona Paakkala
Director
ITX Technology Leader
Tel. +41 58 792 42 58
paakkala.ilona@ch.pwc.com

Sandra Wirz
Senior Manager
ITX ERP Support Responsible
Tel. +41 58 792 25 32
sandra.wirz@ch.pwc.com

Adapt your SAP authorisation concept to S/4HANA

S/4HANA is SAP’s next-generation business suite that is built on SAP’s proprietary operational database system and in-memory computing platform called SAP HANA. S/4HANA is intended to be easier to use and administer while helping to solve more complex problems and handle vastly larger amounts of data than ist predecessors. S/4HANA is available in on-premises, cloud and hybrid deployment models.

With the release of S/4HANA SAP consolidates the integration and harmonisation of functionalities and processes and further reduces barriers between SAP modules facilitating system integration. New technologies, such as Fiori, enhance the user interface for both desktop and mobile devices. The in-memory HANA database lets you collect, store, and process high volumes of operational and transactional data in real time.

Implementation of S/4HANA will affect your current environment, and not just technologywise because processes are also subject to change. Both – the new technology and the change in processes – will result in new requirements for your current authorisation concept. Whereas parts of your existing authorisation concept can be easily transformed and implemented 1:1 in the SAP S/4 HANA system, other parts need to be changed and adapted to meet the new requirements.

PwC has a proven track record in Switzerland and globally in implementing and transforming SAP authorisation models in the SAP S/4HANA environment. Our GRC Technology Team in Switzerland led and executed the authorisation implementation part of the ninth S4/HANA implementation worldwide from the authorisation concept, to implementation and operation. Our experts have the required skill-set, tools, techniques and experience to discuss your challenges with you, and to actively support you throughout the whole project.

Download the PDF by clicking the image below:

Please contact our team for more details:

Dominik Götz
Senior Manager
dominik.goetz@ch.pwc.com
+41 58 792 28 93

Erik Trouillet
Manager
erik.trouillet@ch.pwc.com
+41 58 792 23 64

Changes to legislation governing Swiss VAT liability

Swiss VAT law places new obligations on foreign companies

The partial amendment to the Federal Law on Value Added Tax (VAT law) will impact companies not established in Switzerland from 1 January 2018. Businesses which are not based in Switzerland but provide supplies vis-a-vis Switzerland may be liable to pay Swiss VAT. This will apply in instances where a foreign company generates turnover in Switzerland, in other words in cases where Switzerland is the place of supply for the purposes of VAT. The following information outlines the VAT situation in Switzerland today and in the near future.


Download the full report here.

If you have any questions, please get in touch your usual PwC contact person or our expert

Julia Sailer
Director
Leader VAT compliance Switzerland
Tel. +41 58 792 44 57
julia.sailer@ch.pwc.com

Additional Languages for this report

German
French
Italian

Enhanced auditor’s report: towards trust and transparency

The new auditor’s report required by Swiss legislation is designed to be more informative and insightful, and give the stakeholders of reporting entities greater assurance. We at PwC welcome the new reporting requirements as an opportunity to unlock the ‘black box ’of what we actually do as auditors and increase trust in our role.

We also realise, though, that the new reports and their potential impact on governance have to be discussed and understood – not only by the auditors who produce them, but by reporting entities and their stakeholders, from shareholders to regulators. For this reason we’ve produced a short flyer explaining the major changes and their implications, including a commented overview of the structure of the new report.

You can read the flyer via the link below. Feel free to contact us if you’d like to discuss the new auditor’s report and its implications in more detail.

Download flyer

 

The IDD implementation taking a clearer shape: latest EIOPA publications

The Insurance Distribution Directive was published in the Official Journal of the European Union in February 2016.

It will be transposed into law of the EU Member states by 23 February 2018.
The IDD applies to a wide group of insurance and reinsurance distributors and introduces a set of extended and new requirements around the oversight, governance and distribution of insurance products.
Affected firms will need to be compliant with the requirements from that date.

Read the Flyer

Please do not hesitate to contact us.

Philip Kirkpatrick
Insurance Risk and Regulatory Leader
+41 58 792 23 61
philip.d.kirkpatrick@ch.pwc.com

Nadejda Groubnik
Insurance Regulatory &
Compliance Services
+41 58 792 24 52
nadejda.groubnik@ch.pwc.com

Robert Borja
Insurance Risk Assurance Leader
+41 58 792 29 56
robert.borja@ch.pwc.com

Are large-scale transformation initiatives doomed by default?

megatrends_730x240

Against a backdrop of ubiquitous change, successful transformation is essential for survival in a highly dynamic and competitive environment. However, there is overwhelming evidence that most such initiatives end in some degree of failure. We examine the trends and forces driving these processes and the factors crucial to their success.

Read more …