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January 17, 2014
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EU abolishes quarterly reporting at last! US to follow?

The new European Transparency Directive, which was published at the end of 2013 in the Official Journal, is now in force. In a major effort to simplify the burden of financial reporting, the EU has killed off quarterly reporting for publicly listed companies.  Local (country specific) legislation is required to follow suit although in special...

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January 9, 2014
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Revenge of the XBRL Fallen at the SEC in 2014?

Given Michael Bay’s on-stage implosion Monday at CES in Las Vegas, a shout out to his forgettable second Transformers-based movie and its potential similarity to XBRL in 2014 at the SEC.  While the Autobots assumed the Decepticons threat was put to rest only to have them rise again in Transformers 2:  Revenge of the Fallen,...

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January 6, 2014
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What’s the Breaking Point for Employees in Financial Close?

A Deloitte survey in late 2012 asked contributors “which element of the financial close was closest to Utopia?” The elements considered the quality of the process, the clarity of accountability/ownership and the amount of time that technology released people to do more thinking. But tucked within the analysis was the finding that out of 1,458...

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December 19, 2013
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Will it be Cloudy for Finance in 2014?

Will it be Cloudy for Finance in 2014? Most definitely yes… But in a good way! Trintech has witnessed a shift in the market as our clients more readily adopt Cloud Solutions, becoming more comfortable with the switch in the software delivery model.  Why? Because Cloud just makes things easier, wherever you are and whatever...

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December 18, 2013
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EU Accounts Signed Off, but Errors Persist

EU accounts signed off, but errors persist in all main spending areas, say EU Auditors The annual report on the EU budget for 2012 financial year was published recently by the European Court of Auditors (ECA). In 2012 the EU spent €138.6 billion, but in most spending areas of the EU budget the report finds...

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December 11, 2013
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Volume of Disclosures Under the Microscope Again

When is enough … enough? US Securities and Exchange Commission (SEC) is once again wrestling with the question of whether statutory disclosures are too lengthy.   It’s a question that needs to be asked from time to time otherwise regulators and standard setters continue to add to the burden of reporting and nobody challenges what can...

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December 5, 2013
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Sustainability back on the corporate agenda

The global economy is showing signs of recovery and now that boards can breathe more easily attention is turning once more to sustainability reporting.  Of course many companies are already taking their civic responsibilities very seriously but none other than UN Secretary-General Ban Ki-moon used the triennial UN Global Compact Leaders’ Summit, to discuss sustainability...

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November 26, 2013
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End-to-End Global Process Ownership Takes Off

Recent Hackett Research indicates that organizations with top-performing end-to-end processes have a higher level of adoption of enterprise-wide ownership than peers. (see chart below) This has been a long time coming and I for one am very pleased to see that the people involved in finance transformation finally get it; putting a global end-to-end process...

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November 20, 2013
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SEC XBRL Comment Letter Update: So Close and Yet…

A few posts back I talked about the possibility (probability) of the SEC putting a little beef in their comment letters related to quality issues in XBRL submissions (and thus making Clara Peller proud!).  My take was that it was only a matter of time before the SEC moved into commenting on the quality (or...

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November 4, 2013
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If IPO is the Goal, Do You Have the Infrastructure in Place?

Ernst & Young, a valued Trintech partner, offers insightful tips for companies who are considering an IPO in Forbes. Jackie Kelley, an advisory Partner of Ernst & Young LLP and the leader of the Americas IPO Network says: “Life as a public corporation is far different from that of a private company. A successful IPO...

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