Fatca Preparedness Remains Low, Survey Finds

Strapline: Regulation & Standards

A survey of 200 compliance, risk, audit and legal practitioners worldwide found gaps in readiness to comply with the US Foreign Account Tax Compliance Act (Fatca), which takes effect January 2013.
Over half the practitioners surveyed were unsure of Fatca’s impact, according to Thomson Reuters, which conducted the survey.

Forty-three percent of firms surveyed were unsure of what their strategic approach to Fatca should be and 51% of firms with US entities that were surveyed were not sure how to ap