Thomson Reuters has announced the launch of a next generation solution to facilitate the filing of financial disclosures with the U.S. Securities and Exchange Commission (SEC) in alignment with the SEC’s XBRL mandate. Thomson Reuters Disclosure Solutions will enable companies that file financial disclosures with the SEC to more accurately prepare, update and deliver their financial disclosures through a single seamless workflow. The next generation Disclosure Solutions service is part of the Thomson Reuters Accelus suite of solutions.
With the temporary limited liability provisions ending soon and the SEC scrutinizing the XBRL formatted files to ensure accuracy and timeliness, organizations need to be increasingly diligent in filing their disclosure reports. This new solution will enable organizations to improve the preparation of financial reports and allow them to take advantage of expert consulting services and software to successfully file disclosures with the SEC.
Thomson Reuters Disclosure Solutions brings together three distinct and complimentary elements for financial disclosure transparency, accuracy and delivery. Disclosure Solutions PROFILE simplifies the in-house management of multiple processes relating to XBRL and EDGAR formats and enables organizations to edit and file their XBRL and EDGAR documents in a single software application. Coupled with this, Disclosure Solutions PROSERVE provides best practice XBRL consulting and filing services with an expert team of qualified CPAs and accountants to lead organizations through the process of accurately preparing and filing their disclosures. Additionally, Disclosure Solutions PROSHARE provides a 24x7 service center that is a customizable and secure portal over which disclosure documents can be shared across the organization.