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CCH/Wolters Kluwer buys Company Reporting

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16th Sep 2013
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Global professional information and software combine Wolters Kluwer has bought accounting analyst Company Reporting for an undisclosed sum.

Company Reporting specialises in examining the annual reports and financial statements of listed companies to identify how they comply with accounting and corporate governance standards.  Designed for financial analysts, corporate accountants and the firms serving them, the Company Reporting service is claimed to help identify reporting trends, best practices and examples where company accounts have diverged from GAAP.

In the past year, Company Reporting has broadened its coverage to the top 100 companies listed on the UK’s Alternative Investment Market (AIM) and interim statements, which will often indicate when a company has adopted a new accounting standard for the first time.

Company Reporting director Omkar Joshi joined the company a few years ago to transform it from a publisher to more of an “intelligent platform” focusing on IFRS.

“We started changing lots of processes and content types, growing the business and adding analysts,” Joshi told AccountingWEB. “Given the size of the opportunity that IFRS presents us - with, for the first time ever a global set of standards - I felt we needed a strong investor or partner.”

That quest eventually led him to Wolters Kluwer, and the focus of discussions switched from partnership to acquisition. As part of the deal, Company Reporting will become part of Wolters Kluwer’s CCH UK division. Joshi and his sales team will move to CCH’s headquarters in Kingston-upon-Thames. The firm’s analyst and author team will remain in Edinburgh, with additional analysts working in India.

Douglas Broom, head of information at CCH, commented that after an initial period running the Company Reporting product as it is, the intention was to integrate the service with other CCH products and broaden its functionality to make it easier for accountants to view how their peers and competitors have handled accounting treatments.

“We are also in process of rolling out information products for the new UK GAAP. I think we have a unique opportunity to bring those together with Company Reporting to provide tremendous support for the new FRS 102 regime.” 

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