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Ernst & Young Australia Selects Reval® for Derivative Valuations and Hedge Accounting

Dépèche transmise le 13 septembre 2009 par Business Wire

SYDNEY--(BUSINESS WIRE)--Reval, the global leader in derivative risk management and hedge accounting solutions and services, announced today that Ernst & Young Australia has selected its award-winning Software-as-a-Service platform, Reval^®, to meet derivative valuation and hedge accounting needs. The selection of Reval’s solution comes at a critical time as increasingly stringent hedge accounting regulatory requirements and derivative valuations are becoming a strong focus for Big 4 auditing firms and their clients.

“Ernst & Young Australia’s signing on for Reval further confirms our market leadership and validates our valuation models and hedge accounting capabilities,” said Tony Singleton, Managing Director, APAC. “This brings the total count to three out of the Big 4 auditing firms using Reval, which is testament to our proven track record and best-of-breed solution.”

Ernst & Young Australia will be rolling out the Reval platform throughout its Australian offices to improve turnaround time and better service their clients. Ernst & Young Australia will use the Reval platform to generate portfolio valuations, perform credit adjusted fair values and test compliance with IAS 39 and IFRS 7 reporting requirements, providing greater efficiency to the workflow process.

About Reval

Reval^® provides financial and accounting professionals with an award-winning Web-based platform that supports derivative risk management. This Software-as-a-Service addresses the need for derivatives to comply with international regulations, such as FAS 133, FAS 157, Sarbanes-Oxley, IAS 39 and IFRS 7. The world’s leading corporations, financial institutions, and accounting firms rely on Reval to provide independent valuations of derivative transactions and to assist with the hedge accounting of foreign exchange, interest rates, energy, credit, commodities, and other asset classes. Reval uses its expert teams comprising financial engineers, accounting professionals, and technologists to deliver its critically acclaimed services and products, which integrate easily with treasury management and ERP systems and deploy rapidly. Founded in 1999, Reval has headquarters in New York and regional centers based in Bala Cynwyd, Chicago, San Francisco, Toronto, London, Sydney, Hong Kong, and Gurgaon.

For more information, visit www.reval.com or email [email protected].