Finance directors have been eyeing the looming deadline for IAS 32/39 with some trepidation for some time now. One option for combating the question of hedge accounting requirements, at least as far as many software vendors are concerned, is for CFOs to implement software solutions. Trema, the software provider for financial institutions, has launched its hedge accounting module to cope with the fair value accounting regulations under IAS39 and to provide support for FAS 133/138. Trema proposes to reduce the labour intensive process of hedge accounting by introducing software to deal with: cashflow hedging; fair value hedging, and; net investment hedging. FX and interest rate hedging are also included in the package.
Michele Fitzpatrick, CEO at Trema, comments: ?The market has been crying out for a solution to help them deal with IAS 39 and FAS 133/138. Hedge accounting is a complex topic and with the regulations constantly evolving, it has been a moving target for systems vendor.?
Trema claims the module is the first comprehensive system to assist clients in this area. Other vendors, however, suggest similar modules are already fully operational. See next month?s CF for more details.