• Register
Return to: Home > News > Financial Results > Thomson Reuters to acquire Confirmation

Thomson Reuters to acquire Confirmation

Thomson Reuters has signed a definitive agreement to acquire Confirmation, a provider of secure audit confirmation services. Confirmation has a 19-year history of providing digital confirmation services to more than 16,000 audit firms, 4,000 banks and departments and 5,000 law firms across 170 countries.

The completion of the acquisition is subject to specified regulatory approvals and customary closing conditions, including the expiration or termination of applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act. Financial terms of the transaction were not disclosed.

"The Confirmation acquisition will strengthen offerings to our core tax, accounting and audit customers," said Jim Smith, president and CEO, Thomson Reuters. "We will continue to invest in solutions that help our customers automate tasks in their daily workflow. The Confirmation acquisition fits that objective."

Charlotte Rushton, president, Tax & Accounting Professionals, Thomson Reuters added: "The audit industry is changing rapidly, with confirmations being a critical, yet previously challenging part of the process. New technologies and the widespread electronic storage of financial information are now making audit transformation possible. We believe that acquiring Confirmation will enable Thomson Reuters to: scale Confirmation by leveraging our extensive audit firm relationships and channel to accelerate cross-sell and adoption; better serve the needs of our audit customers, including providing them with additional capabilities as part of our Cloud Audit Suite; expand Confirmation globally, and use our existing customer relationships and capabilities to grow Non-Bank confirmations."

"Accounting firms, banks and law firms use Confirmation's technology to improve workflow, increase efficiency and reduce risk," said Brian Fox, CPA, president and founder of Confirmation, who will join Thomson Reuters after the closing and continue in an executive role.

Top Content

    South Africa: sensing new opportunities

    It has been an interesting couple of years for the profession in South Africa. A number of high-profile scandals have brought the profession and the role of auditors into sharp public focus, brewing a distrust towards accountants and a large expectations gap. Joe Pickard reports.

    read more

    Ghana: a quest for consistency

    Ghana’s current economic profile would suggest a fertile landscape for purveyors of accounting services. But inconsistent approaches to compliance and application of standards – coupled with problems in the banking sector and consequent liquidity constraints – have created a challenging environment. Paul Golden writes.

    read more

    Drone technology: audit takes to the skies

    The movement towards a digitised era has already impacted the auditing profession in a number of ways, from blockchain to artificial intelligence. Now firms are taking to sky and using drone technology in their audits. Mishelle Thurai speaks to Big Four firms to find out more.

    read more

    SBC: a new alliance joins the market

    Jonathan Minter speaks to Paul Tutin, chair of founding firm Streets Chartered Accountants, about why the business and its European partners took the decision to launch their own association.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.