RWE chooses NFS to evaluate hedge accounting module
RWE, one of Europe's largest utility companies, has selected Nordic Financial Systems (NFS) to implement Trema's hedge accounting module to meet the IAS 39 guidelines due to be imposed from January 1 2005.
NFS, a business service provider to the treasury industry, will analyse RWE's hedging requirements under IAS 39, evaluating them against the services provided by Trema's hedge accounting module.
Magnus Lind, CEO at NFS, comments: "Our consultants' in depth knowledge of IAS 39 coupled with our position as a Trema Certified Expert partner mean we are well positioned to assist Trema clients. We understand the significant changes to hedge accounting IAS 39 introduces and how Trema's hedge accounting module supports this. As the deadline for compliance with the new standard rapidly approaches, we look forward to using the knowledge gained from this and other IAS 39 projects to ease the compliance burden for other organisations."
NFS is working with Schwabe, Ley & Greiner (SLG) on the project, a leading corporate treasury consultancy. RWE already deploys Trema's solution Finance KIT(tm) for cash, treasury, risk and asset management and is keen to adopt the newly released hedge accounting module to support the accounting and reporting complexities introduced by IAS 39.