Global professional services firm, KPMG, and Global Technology Business Intelligence (GBI), the South African distributor of Hyperion solutions, have agreed to work together to help companies implement Hyperion Financial Management (HFM) and other related products.
"This brings together KPMG`s expertise in the areas of accounting, business risk and project management and GBI`s experience of Hyperion solutions," says KPMG Information Risk Management partner, Ron Stuart.
HFM is a Web-based application that delivers global collection, financial consolidation, reporting and analysis in a single solution. Implementing HFM is expected to improve the quality of a company`s statutory reporting information, including compliance with International Accounting Standards (IAS) 2005 and the Sarbanes-Oxley Act.
"Sarbanes-Oxley will have a knock-on effect on our markets. Any company with a dual listing will have to report in line with the requirements of Sarbanes-Oxley," says Marc Scheepbouwer, CEO of GBI.
"In addition, finance minister Trevor Manuel has hinted that SA will be guided by international best practice in its approach to corporate governance locally. The same applies to IAS 2005."
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