The Tax & Accounting business of Thomson Reuters is partnering with Issues Central, Inc., to offer a comprehensive solution for corporate tax departments transitioning from U.S. Generally Accepted Accounting Principles (GAAP) to International Financial Reporting Standards (IFRS).
software from Issues Central is now offered with Checkpoint, the award-winning online research platform used by approximately 500,000 professionals. This new offering creates a solution that reduces transition costs, staff workload, and compliance risks for multinational corporations transitioning to IFRS.
While thousands of companies in more than 120 countries already have adopted IFRS, the U.S. Securities and Exchange Commission (SEC) will decide later this year whether U.S. public companies will be required to adopt these standards.
“Our relationship with Issues Central demonstrates our commitment to our corporate customers and their potential reporting needs,” said Linda Scheffel, vice president & publisher at the Tax & Accounting business of Thomson Reuters. “Now through Checkpoint, users can access our up-to-date IFRS and U.S. GAAP information, relevant expert analyses, and the practical conversion tools offered through IFRS PARTNER.”
The integrated solution offers:
- Preliminary project planning and scoping of GAAP to IFRS differences
- Evaluating quantitative and qualitative business impacts
- Drafting new IFRS accounting policies
- Reporting to management and external auditors
- Creating draft IFRS financial statements with integrated disclosure instructions and notes;
- Online access to expert analysis and guidance by renowned WG&L RIA, and PPC, authors
- Hyperlinked access to comprehensive primary source libraries including FASB, IASB and SEC
“We’re pleased to offer our IFRS PARTNER functionality through Thomson Reuters Checkpoint platform,” said Catherine Connally, president of Issues Central, Inc. “Together, we provide the most complete and efficient approach for companies to plan, analyze, and manage the entire IFRS adoption process.”
About Thomson Reuters:
is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, healthcare and science and media markets, powered by the world's most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs more than 50,000 people and operates in over 100 countries.
The Tax & Accounting business
of Thomson Reuters is the leading provider of technology and information solutions, as well as integrated tax compliance software and services to accounting, tax and corporate finance professionals in accounting firms, corporations, law firms and government. Headquartered in New York, Tax & Accounting has major operations in Ann Arbor, Dallas, Hyderabad, London, Sydney, and Toronto.
About Issues Central, Inc.:
Issues Central, Inc. develops specialized content-rich software solutions for the finance and accounting teams of companies listed on global capital markets. Solutions are focused around IFRS transition analysis and management; financial reporting; and financial compliance. The company is headquartered in Toronto, Canada with U.S. offices in New York, NY and San Jose, CA.