360 Sessions designed to update attendees in the latest trends affecting their profession
CARROLLTON, Texas, Oct. 29 /PRNewswire-FirstCall/ -- The Tax & Accounting business of Thomson Reuters hosted its annual 2009 ONESOURCE User Conference for Corporate & Trust Tax Professionals, with more than 1,000 attendees. The conference offered more than 16,000 cumulative hours in Continuing Professional Education (CPE) credits for attendees, alongside training sessions and legislative and regulatory updates. Further, trends in the tax and accounting sector, including the increased focus by CEOs and CFOs on tax planning were discussed, to include:
-- Within 5-10 years, 90% of the world's GDP will be generated in
IFRS-compliant nations
-- Transfer pricing will have an increasingly significant impact on tax
planning and compliance
-- As accounting standards become globalized under IFRS, IAS12 is quickly
becoming the worldwide provision standard
-- Stringent reporting requirements dictate the need for more integrated
compliance and provision solutions
"While the tax and accounting industry is inherently local, it is also becoming increasingly more global, and the impact this has on revenue and profit is evident," said Brian Peccarelli, president of Corporate Software & Services at the Tax & Accounting business of Thomson Reuters.
"Corporations will feel more pressure from countries trying to increase revenues through new forms of taxation," added Peccarelli. "Tax professionals will see stipulations for regulatory compliance become even more complex and audit practices become more closely scrutinized. ONESOURCE is designed to confront these factors and will offer our clients a streamlined, precise service designed to integrate the local and global aspects of tax compliance and planning."
Through ONESOURCE, the Tax & Accounting business of Thomson Reuters has provided its clients - in nearly 200 countries - with the following:
-- More than 65,000 corporate returns filed in the past year for ONESOURCE
Income Tax clients
-- 25,000 trained users of ONESOURCE TaxStream Provision, used by 45% of
the Fortune 500 and the top 10 accounting firms
-- Millions of dollars in tax savings for ONESOURCE Property Tax clients
-- Four million documents stored and more than 90,000 workflow processes in
use
-- Nearly 17 million 1099s processed for ONESOURCE 1099 clients
The 2009 ONESOURCE User Conference for Corporate & Trust Tax Professionals had more than a dozen conference sponsors, and attendees were able to choose from hundreds of learning sessions under 11 specialty tracks including: Checkpoint, ONESOURCE Corporate WorkFlow Tools, Mastering Microsoft Excel, Domestic Income Tax Compliance, International Income Tax Compliance, Property Tax, Tax Provision, Sales & Use Tax, Transfer Pricing, and Trust Tax.
About Thomson Reuters
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, healthcare and science and media markets, powered by the world's most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs more than 50,000 people and operates in over 100 countries. For more information, go to www.thomsonreuters.com
The Tax & Accounting business of Thomson Reuters is the leading provider of technology and information solutions, as well as integrated tax compliance software and services to accounting, tax and corporate finance professionals in accounting firms, corporations, law firms and government. Tax & Accounting includes the Corporate Software & Services, Professional Software & Services, and Research & Guidance business groups.
SOURCE The Tax & Accounting business of Thomson Reuters
Ruth Ann Baker, Public Relations of The Tax & Accounting business of Thomson Reuters, +1-972-250-7438, ruth.ann.baker@thomsonreuters.com