November 17, 2017

Thomson Reuters Expands Relationship with Deloitte through XYZ Model Financial Accounts in Australia

SYDNEY - Thomson Reuters announced today a further extension of its relationship with Deloitte as a co-author of the Thomson Reuters XYZ Model Financial Accounts guidance for Australia.

Starting January 2018 the collaboration aims to deliver up-to-date information to assist practitioners prepare financial reports that meet increased financial reporting regulation and complexities in the Australian market. This will include important updates for AASB15 (Revenue) and AASB16 (Leases) – two new standards being introduced in 2018 and 2019 respectively.

Thomson Reuters XYZ Model Financial Accounts provides step-by-step guidance to produce compliant financial statements, and prepare to adopt mandatory reporting standards. The XYZ Model Financial Accounts product suite is tailored for the most common entity types and client reporting requirements, including all major reporting and non-reporting entities, such as listed and unlisted public companies, trusts, APRA-regulated superannuation funds, not-for-profit companies limited by guarantee, managed investment schemes and self-managed superannuation funds.

Ben Scull, Managing Director, Tax & Accounting, Australia and New Zealand at Thomson Reuters said, “The new engagement sees Thomson Reuters continue to strengthen our relationship with Deloitte in the Australian market and further help our clients navigate the challenges of a myriad of new regulatory changes. It also extends on from another important recently announced partnership which sees Deloitte become an implementer for Thomson Reuters market-leading ONESOURCE Statutory Reporting software to assist finance departments streamline financial reporting processes, helping them to save time, improve accuracy and remain compliant.”

Soter Tiong, Accounting Advisory Partner at Deloitte said, “We believe the Thomson Reuters XYZ Model Financial Accounts Guidance is a very important initiative to assist preparers of financial statements across multiple industries. This collaborative engagement ensures that we bring top quality financial reporting capabilities to support Thomson Reuters help these practitioners both prepare and present their financial statements.”

Visit here for more information on XYZ Model Financial Accounts.


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About Deloitte Australia

In Australia, the member firm is the Australian partnership of Deloitte Touche Tohmatsu. As one of Australia’s leading professional services firms, and winner of both the Australian Financial Review/CFO Audit Firm of the Year and Accounting Firm of the Year awards 2013, Deloitte Touche Tohmatsu and its affiliates provide audit, tax, consulting, and financial advisory services through approximately 6,000 people across the country. Focused on the creation of value and growth, and known as an employer of choice for innovative human resources programs, we are dedicated to helping our clients and our people excel. For more information, please visit Deloitte’s web site at
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Silke Marsh
Thomson Reuters
+61 392 861 464

Louise Denver
+61 0 414 889 857