You are a staff accountant with Munson-Libra Industries, a multinational company that manufactured and sold orthopedic devices.

Because of political instability in North Africa, let's not disclose specific countries. In addition, we restructured most of our French sales and some of our U.S. sales to occur through our offices in the Cayman Islands. This allows us to avoid paying higher taxes in those countries. The Cayman Islands has a 0% corporate income tax rate. We don't want to highlight our ability to shift profits to avoid taxes.