CCH and IQ Group partner on super reporting solution
Specialist tax, accounting and audit information and software company CCH has announced it will be launching a new product during next week's Conference of Major Superannuation Funds (CMSF) in Brisbane.
The company, a subsidiary of Wolters Kluwer, announced it had partnered with IQ Group for the implementation of its CCH Integration software platform aimed at enabling Australian Prudential Regulation Authority (APRA)-regulated superannuation funds to meet new reporting requirements.
Announcing the move, CCH Corporate Reporting Solutions managing director Peter Boyle said he believed the partnership with IQ Group delivered a solution that would help public, retail and corporate superannuation funds as well as third-party fund administrators meet their regulatory reporting requirements.
"CCH brings the technological strength in the form of its mature corporate reporting solution CCH Integrator. IQ Group brings the depth of superannuation knowledge and data experience required for APRA reporting," he said.
IQ Group chief executive Graham Sammells said new APRA reporting standards would require vastly increased levels of data collection by superannuation funds.
"Client estimates forecast the involvement of from two to five team members when this particular set of APRA requirements become effective for funds from July 2013," he said.
"The increased breadth and depth of reporting will require a more robust and repeatable reporting solution than the current practice of analysts manually collecting data and updating spreadsheets."
Recommended for you
As the year draws to a close, a new report has explored the key trends and areas of focus for financial advisers over the last 12 months.
Assured Support explores five tips to help financial advisers embed compliance into the heart of their business, with 2025 set to see further regulatory change.
David Sipina has been sentenced to three years under an intensive correction order for his role in the unlicensed Courtenay House financial services.
As AFSLs endeavour to meet their breach reporting obligations, a legal expert has emphasised why robust documentation will prove fruitful, particularly in the face of potential regulatory investigations.
