The integrated, certified, and cloud-based solution combines the strengths of CCH Tagetik and CoreFiling to enable quick, accurate preparation of iXBRL files in format required by European regulators
STAMFORD, Conn. and LUCCA, Italy, June 3, 2019 /PRNewswire/ -- Today CCH Tagetik, part of Wolters Kluwer Tax & Accounting and the global provider of market- leading software solutions and information services for finance professionals, announced that it has entered into a partnership with global software and services company CoreFiling Limited. The partnership addresses the European Securities and Markets Authority (ESMA) requirement that inline XBRL (iXBRL) be used as the standard behind European Single Electronic Format (ESEF) for mandatory IFRS-based 2020 annual financial statement filings in 2021. The new regulation affects all European public companies listed within the European Union and the European Economic Area.
CoreFiling's XBRL Certified Software™ is trusted by the world's regulators. Its customers include central banks and regulators in the United Kingdom and worldwide, three of the top five High Street banks, all the "Big Four" accounting firms, and more than 200 organizations across 26 countries.
CCH Tagetik iXBRL (powered by CoreFiling) provides a quick and accurate cloud-based solution to prepare iXBRL filings in ESMA's mandated format. CCH Tagetik iXBRL (powered by CoreFiling) uses smart tagging to accurately tag and manage taxonomy extensions, as well as validate and create the iXBRL file from annual financial statements.
"Thanks to our collaboration with CoreFiling, our customers will be able to meet regulatory requirements for reporting quickly and accurately without needing to source additional software with the assurance of being up to date with the current XBRL taxonomy. With a seamless, cloud-based platform and CCH Tagetik's extensible unified platform for consolidation, disclosure and now iXBRL, we are continuing to provide our customers the best user experience and more value for their investment," said Marco Pierallini, CCH Tagetik Executive Vice President, Product.
Philip Allen, Executive Chairman of CoreFiling, said "Bringing European listed company accounts in line with the format used elsewhere in the world will help to modernize the capital markets and simplify financial analysis. This solution delivers a seamless upgrade for CCH Tagetik customers and we look forward to further extending CCH Tagetik's unified platform in the future."
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About Wolters Kluwer
Wolters Kluwer (WKL) is a global leader in professional information, software solutions, and services for the healthcare; tax and accounting; governance, risk and compliance; and legal and regulatory sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with advanced technology and services.
Wolters Kluwer reported 2018 annual revenues of €4.3 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 19,000 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.
Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt (ADR) program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY)
SOURCE CCH Tagetik