Tag Archives: financial reporting

Quality Assurance Campaign from Rivet Software Looks to Elevate Financial Reporting

Program Launches With Webinar Addressing The ‘End Of Limited Liability’

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.

Contact:
Dan Mahoney
Communications Strategy Group
3225 East 2nd Avenue
Denver, CO 80206
970.405.8060
dmahoney@csg-pr.com
http://www.csg-pr.com

Rivet Software Completes Successful SSAE No. 16 Audit

Rivet Software, the premier provider of standards-based business reporting and analytics software, today announced it has successfully completed a Statement on Standards for Attestation Engagements (SSAE) No. 16 audit and obtained an unqualified opinion.

Denver, CO, October 09, 2012 – Rivet Software, the premier provider of standards-based business reporting and analytics software, today announced it has successfully completed a Statement on Standards for Attestation Engagements (SSAE) No. 16 audit and obtained an unqualified opinion. The company engaged an industry leading independent auditing firm to perform the audit.

SSAE No. 16, which replaces SAS 70 is a widely recognized auditing standard developed by the American Institute of Certified Public Accountants, which represents that a service organization has been through an in-depth audit of their control objectives and control activities.  In addition, an SSAE No. 16 audit is viewed as meeting the strict requirements of Section 404 of the Sarbanes-Oxley Act of 2002 in assuring the effectiveness of internal controls at service organizations.

A vendor that undergoes an SSAE 16 examination is rigorously evaluated on its controls over its system architecture and the service it provides to customers. The areas of examination include: infrastructure, software, employees, procedures and data handling.

“Third-party audits are strenuous to be sure,” said Emily Huang, Rivet’s Co-founder and SVP of Sales and Marketing, “but they’re the best way we can demonstrate to our clients that we’re responsibly handling and protecting their data.”

Rivet, the most tested and used XBRL management and filing system in the industry, recently introduced an updated version of its popular Crossfire Solutions financial reporting software, Crossfire 5.3. Designed for companies looking to expand the usage of XBRL, Crossfire 5.3 includes an analytics component to both create and consume corporate XBRL filings.

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.

Contact:
Dan Mahoney
Communications Strategy Group
3225 East 2nd Avenue
Denver, CO 80206
970-405-8060
dmahoney@csg-pr.com
http://www.csg-pr.com