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LexisNexis Taps E&Y for Int'l GAAP


June 25, 2007 (SmartPros) LexisNexis said it has tapped Ernst & Young to exclusively bring its International GAAP 2007 to accountants and tax professionals who use the LexisNexis Tax Center to obtain content on tax and accounting topics.



Written by the International Financial Reporting Group of Ernst & Young, International GAAP Online includes the full text of every International Financial Reporting Standard (IFRS) and a set of model IFRS financial statements.

LexisNexis also has paired with Danielle Rolfes, Esq., tax attorney and CPA with Ivins, Phillips & Barker, to present information on FIN 48, the critical issue on uncertain income tax positions that has the accounting profession seeking new insight and analysis on a regular basis.

"There's a sea change that's less about the mechanics of FIN 48 and more about rigorous accounting to give investors enhanced insight into companies' overall income tax positions and the consequent ability to scrutinize and compare," said Danielle Rolfes, tax attorney and CPA with Ivins, Phillips & Barker. "This represents one of the largest and potentially more volatile expenses reported on the income statement. We expect FIN 48 to keep a front-and-center position in management circles for years to come."

LexisNexis launched its Tax Center last year to help streamline analysis of tax strategies across the broadest array of leading tax publishers available on a single platform including LexisNexis, CCH, BNA, Tax Analysts, ABA Section of Taxation and Matthew Bender.

2007 SmartPros Ltd. All rights reserved.

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