Toronto-based corporate performance management software firm Clarity Systems on Tuesday said it was forming a partnership that could help enterprise companies ease the process of complying with rules around filing electronic information to the U.S. Securities and Exchange Commission.
Clarity said it was working with EDGARfilings, which makes specialized software for SEC filing, on an integrating reporting tool that allow them to create reports using its Financial Statement Reporting (FSR) application and file them through the EDGARizer product. These could include 10K and 10Q documents as well as other regulatory reports, the firms said.
Filing for the SEC is taking on new prominence in many enterprise firms, including those with Canadian subsidiaries, as Sarbanes-Oxley and other rules have heightened governance processes. The SEC, like Canada’s financial regulator, increasingly moving towards exchanging information in extensible business reporting language, or XBRL.
Clarity released FSR as part of its flagship Clarity 6 suite earlier this year.