Beat the competition with a skilled automotive staff that is aware of your difficulties and has the skills to support your company objectives.

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About Service

The automotive industry is a prominent global manufacturing sector characterized by its fast-paced nature and focus on innovation. With a high level of saturation and a strong emphasis on cost and regulation, this technology-driven market is witnessing a shift towards international sourcing and distributed manufacturing and assembly operations.

At TIIN, we have established an automotive industry group that combines technical excellence and in-depth knowledge. We understand the unique commercial needs of middle-market clients operating in this sector, offering comprehensive solutions across accounting, tax, and operational matters. Our goal is to help our clients maintain their competitiveness by seizing business opportunities in this dynamic landscape.

We pride ourselves on staying at the forefront of challenges that impact middle-market clients and their supply chains. As the automotive industry undergoes significant transformations, global competition continues to intensify. Our experienced team comprehends the far-reaching implications of these changes for your organization. We are here to guide you through the complexities and intricacies of this ever-evolving industry, providing expert insights and tailored solutions.

ability to provide automotive services

The following are some of the things that TIIN automotive audit professionals can help clients with thanks to the supply of a unified global audit methodology and cutting-edge audit software, including improved data analytics tools:

Evaluation of accounting practices and support for making the best possible decisions in policy
Services connected to transactions, such as valuation and purchase price allocation
help with accounting for business mergers
Compilations, evaluations, and audits of financial statements
Examining technical accounting memos and findings
Audits of employee benefit plans
Set aside time for financial statement audits
technical accounting advice on demand
Examining current revenue recognition trends
lead the organization’s efforts in Form 10-Q and Form 10-K preparation

TIIN’s team of tax professionals possesses extensive knowledge and understanding of the challenges faced by automotive suppliers and original equipment suppliers worldwide. We offer valuable insights and expertise in various areas, including:

  1. Domestic federal and international tax structuring: We provide guidance on structuring your taxes both domestically and internationally to optimize your tax position.

  2. U.S. domestic tax credits and ASC 740 services: Our experts assist with U.S. domestic tax credits and offer ASC 740 services, ensuring compliance and maximizing available tax benefits.

  3. Cost segregation studies: We conduct cost segregation studies to identify eligible assets and accelerate depreciation, helping you minimize tax liability.

  4. Credits and incentives: We help you identify and leverage tax credits and incentives available to your business, maximizing your tax savings.

  5. Expatriate compliance and planning: Our team assists with expatriate tax compliance and planning, ensuring adherence to applicable tax regulations and optimizing tax planning for international employees.

  6. Global compliance and statutory reporting: We provide comprehensive services for global tax compliance and statutory reporting, ensuring adherence to tax regulations in different jurisdictions.

  7. International tax services and structuring: We offer guidance on international tax matters and assist in structuring your business operations to optimize tax efficiency.

  8. IRS and state and local audit defense: Our experts provide support and representation during IRS and state and local tax audits, helping you navigate the audit process and protect your interests.

  9. M&A diligence and planning: We assist with tax diligence and planning for mergers and acquisitions, ensuring tax considerations are properly addressed during the transaction process.

  10. Sales and use tax planning: We help you navigate complex sales and use tax regulations, providing strategic planning to optimize your tax position.

  11. State and local tax issues: Our team offers guidance on state and local tax matters, helping you navigate regulations specific to different jurisdictions.

  12. Tax co-sourcing and compliance: We provide tax co-sourcing services, partnering with your internal tax team to enhance compliance and efficiency.

  13. Transfer pricing documentation and planning: We assist with transfer pricing documentation and planning, ensuring compliance with transfer pricing regulations and optimizing intercompany transactions.

  14. Unclaimed property: Our experts help you identify and address unclaimed property issues, ensuring compliance with applicable laws and regulations.

  15. Tax technology selection and optimization services: We offer guidance on selecting and optimizing tax technology solutions to streamline your tax processes and improve efficiency.

  16. Indirect tax recovery: We assist with indirect tax recovery, helping you identify and recover overpaid taxes.

TIIN’s consulting specialists cater to the specific needs of the automotive industry by offering a diverse range of services. Our expertise spans various areas, including:

  1. Incident response and breach management
  2. Valuation of businesses
  3. Assessment and enhancement of business processes
  4. Business intelligence solutions
  5. Cash flow management strategies
  6. IT services, including ERP and CRM implementation, business intelligence, and IT strategy development
  7. Support during acquisition integration processes
  8. Corporate performance improvement initiatives
  9. Operational audits at the unit and supply chain levels
  10. Outsourcing of financial accounting functions
  11. Fraud detection and prevention measures
  12. Inventory management and control systems
  13. Internal audit services
  14. Preparation for initial public offerings (IPO readiness)
  15. Lease due diligence, administration, and advisory services
  16. Litigation and dispute advisory
  17. Advisory and due diligence for mergers and acquisitions (M&A)
  18. Compliance with Payment Card Industry Data Security Standard (PCI DSS)
  19. Risk mitigation for security and privacy concerns
  20. Compliance with the Sarbanes-Oxley Act (SOX) and international control consulting
  21. Auditing of tenant leases
  22. Technical accounting consulting
  23. Managed IT services
  24. Digital transformation strategies
  25. Assessment and implementation of ERP systems

With our comprehensive suite of services, TIIN empowers automotive industry clients to address challenges, improve operations, and drive success in an ever-changing business landscape.

Automotive FAQs

While other markets, including Japan and South Korea, are anticipated to stabilize, automotive markets like China are anticipated to continue growing. Established auto markets like the US, EU, and UK are currently anticipating a decrease.

In order to seize future growth prospects, automotive suppliers will need to reevaluate their product portfolio and outline their end-game plan. With the aid of data analytics, suppliers will need to start developing scenario plans and new business models.

New supply chain alternatives will be driven by alternative suppliers and vendors.

Most automotive suppliers will rethink, realign, and turn to product diversification and product adaption establishing new markets and product combinations as a result of supply chain disruptions. Due to market forces, the automotive industry may continue to consolidate realignment programs.

Corporate resiliency will be essential to navigating through upcoming disruptions and ensuring the automobile industry’s long-term sustainability of profitability and growth.

Consumers can benefit greatly from fully autonomous and advanced driver assistance systems. They must overcome barriers to customer acceptance and regulatory compliance.

To keep ahead of the competition and comprehend regulatory challenges, suppliers must reevaluate their long-term product/program and technology roadmaps.

Robotics, business intelligence, and data analytics will improve the industry’s quality and reduce recalls.

The norm and an integral part of the business strategy of OEMs and suppliers to the automobile industry is the protection of a company’s intellectual property, data privacy, and data security.

Due to the fierce rivalry created by technological players and goods entering the automobile sector, many current competencies will become obsolete. By doing site optimisation analyses and utilizing value chain analytics, suppliers must develop the skills necessary for the creation of customer-focused products.

Future products that are in line with consumer desires will be made possible by continuing to invest in R&D for emerging technologies and product innovation.

With more businesses offering technology and software goods outside the automobile industry, OEMs run the danger of losing market share and profit share. Investors pay attention to this erratic environment and assign the automakers a fair market value.

To handle the growing competitive pressure, particularly for categories with declining market share, a reduced operating cost base is required. Automobile manufacturers will need to start scenario modeling and analyze their supply chains.

Ecosystems of mobility in an advancing ESG environment

James Ward, Partner at TIIN US, and Jake Salpeter, Partner at TIIN Canada, along with Dr. Matthew Hampshire-Waugh, a bestselling author on climate change and new energy technology, and Mr. Uchiyama, co-founder of Tokyo Kyodo Accounting Office, will discuss each pillar of ESG and its increasing significance for supply chains, shareholders, employees, and customers.

Discussions about the development of ESG policies, the increasing adoption of electric vehicles, the overall advantages and challenges of ESG to stakeholders within the automotive sector, the present transparency levels regarding environmental impacts, and more are all gaining ground right now.

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