Thomson Reuters has added strategic enhancements to its Accelus Disclosure Solutions PROFILE software, which assists publicly-held organisations in preparing, updating and delivering their financial disclosures to the US Securities and Exchange Commission (SEC).
Fully embedded into the firm’s workflow the software reduces the time and effort required by firms to generate accurate filings with the SEC. The software enhances, rather than replaces, the firm’s existing word processing and spreadsheet collaboration practice and is supported with best practice eXtensible Business Reporting Language (XBRL) consulting and filing services with a team of qualified certified public accountants (CPAs).
It also simplifies the in-house management of financial disclosures by allowing data from previous filing periods to be rolled forward from filing period to filing period, eliminating the need to re-do work already completed for previous XBRL filings and automating the update of dynamic ‘current period’ contexts from filing to filing.
“Organisations globally are facing new challenges in order to meet their XBRL and disclosure transparency requirements,” said Andrew Neblett, managing director, enterprise risk management (ERM), governance, risk and compliance (GRC), Thomson Reuters.
“These latest enhancements mark the evolution of Accelus Disclosure Solutions to support the heightened compliance needs of organisations required to file increasingly detailed XBRL reports with the SEC.”
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However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.
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