Public country-by-country reporting (PCbCR) of financial and tax information by multinationals is a hot topic in financial reporting right now. Just last week, Australia passed legislation to force PCbC for large multinationals operating there.

In the EU, the first set of mandatory country-by-country tax transparency reports are due over the next 24 months. And in the US, a radical change in accounting and reporting standards means many US-headquartered multinationals will need to make enhanced disclosures in future (regardless of the recent national election result).