Procter & Gamble’s participation in an OECD risk assessment program assures officials that its tax strategies are sound, while illustrating a positive reputation to the public, a corporate tax executive said.

“It’s one more thing we’re going to put in our statement of tax policies and strategies, which we publicly publish to explain to the public that we’re not the real candidate you want to vilify. Go find somebody else,” said Tim McDonald, vice president of finance and accounting and...