Denver, CO, November 20, 2012 - Rivet Software, the premier provider of standards-based business reporting and analytics software, today announced the firm is launching a Quality Assurance Campaign designed to help financial reporting professionals prepare for important changes in the regulatory landscape.
With the last wave of limited liability expiring within a few months, the Rivet campaign is intended to provide SEC reporting professionals fresh insight into the most common errors found in SEC filings and offer guidance on communicating with their investors and submitting correct filings to the Commission.
As a part of the campaign, the firm will be offering a webinar later this month titled ‘The End of Limited Liability – Are you ready?’ The free webinar, which will be hosted by Phil Mennona, Rivet’s XBRL Compliance Manager, will feature special guest Campbell Pryde, CEO of XBRL US. The program will speak to the three things reporting professionals need to know to ensure the quality of their XBRL data.
According to Rivet, since the XBRL mandate went in effect 3 years ago, the external financial reporting industry has seen close to 9,000 public companies file over 50,000 XBRL submissions. Mike Rohan, Rivet’s CEO and Co-founder, says a review of those filings uncovered over 760,000 data quality issues that will result in inaccuracies.
“With the last wave of limited liability expiring in just nine months, financial reporting professionals owe it to themselves, their shareholders, and their management to perform thorough, repeatable data quality checks on their XBRL financials every time,” says Mr. Rohan. “The stakes will doubtlessly raise.”
The ‘End of Limited Liability – Are you ready?’ webinar is scheduled for November 28th, from 1:30 PM – 2:30 PM ET. For more information, or to register for the webinar, reporting professionals are encouraged to visit www.rivetsoftware.com/the-end-of-limited-liability-are-you-ready.com.
About Rivet Software:
Rivet Software provides financial reporting systems that improve the way companies create and consume financial data. Founded in 2003 by software and accounting industry veterans, Rivet’s mission remains to revolutionize global financial communications by enabling financial transparency and leveraging global standards. Headquartered in Denver, CO, the firm employs the most experienced XBRL and financial reporting staff in the industry. Rivet was honored in 2011 and 2012 as an Inc. 500 company. For more information, visit www.rivetsoftware.com.
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