Thomson Reuters Launches ONESOURCE Accounts Production - Australia
Application for accounting professionals enables better control of regulatory processes
Thomson Reuters, the world’s leading provider of intelligent information for businesses and professionals, today formally launched ONESOURCE Accounts Production - Australia. This software solution provides accounting professionals with a regularly updated tool to efficiently produce financial reports in accordance with the latest accounting standards and best practice disclosures.
Australian companies are constantly subject to changes to reporting standards and regulations that can be difficult to keep up with and, therefore, comply with. At the same time, Australian Securities and Investments Commission (ASIC) has increased auditing and investigative activity, so mistakes are more likely to be uncovered, leaving companies at risk of incurring harsh fines, legal penalties and a loss of corporate reputation.
The flexible and efficient software solution guides users through their reporting obligations with easy-to-use reports based on regularly updated Big 4 accounting firm content, allowing finance professionals to meet their financial reporting obligations.
Paul Brindle, managing director in Australia and New Zealand for the Tax & Accounting business of Thomson Reuters, notes that many companies have antiquated systems and processes which do not evolve with the changing regulatory environment.
“ASIC and other regulators have been continually increasing their scrutiny over financial statements,” he said.”However, we regularly see businesses failing to implement adequate systems and processes that keep up with the constant changes to accounting standards and regulations.
“Our new software solution provides finance professionals with a simple, regularly updated application that assists companies to be compliant with current legislation and easily update for new standards and disclosures that will be introduced in the future.”
Major benefits of the new ONESOURCE Accounts Production platform include:
- Automated report preparation and generation
- Regularly updated Big 4 accounting firm content
- Complete audit trail from your trial balance to reports
- Customisable and flexible standard reports that assist in maintaining accuracy, quality and consistency
- “Smart Tag” technology for intuitive reports that link and reference data throughout report
For more information on ONESOURCE Accounts Production - Australia visit: http://onesource.thomsonreuters.com/solutions/accounts-production/accounts-production/au-accounts-production/
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 and risk, legal, tax and accounting, intellectual property 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 approximately 60,000 people and operates in over 100 countries. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges (symbol: TRI). For more information, go to www.thomsonreuters.com.
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