Ernst & Young Australia Selects Reval for Derivative Valuations and Hedge Accounting
Reval has announced that Ernst & Young Australia has selected its software-as-a-service (SaaS) platform 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 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.