CMS BondEdge adopts Audit Integrity’s surveillance tool for accounting anomalies

CMS BondEdge, a provider of fixed-income portfolio analytics, has adopted Audit Integrity’s quantitative rating system, which helps evaluate a firm’s financial accounting and governance practices.

In an agreement reached this week, CMS BondEdge has become the first client to adopt the newly launched financial analytics service, which processes publicly available corporate documents such as SEC filings, litigations, and regulations.

The system condenses this information into an accounting and governance ranking score (AGR), ranging from very aggressive to conservative. AGR scores are determined by comparing selected accounting and governance measures of a company to the profiles of firms found in violation of SEC and other regulatory rulings.

Audit Integrity launched the financial analytics service on July 16, 2003. The subscription-based service was developed for corporate boards, audit committees, chief financial officers and others in the financial community to augment and assure the accuracy of a firm’s financial disclosures. CMS BondEdge intends to fully implement the system by the end of the month.

Laurie Adami, president of CMS BondEdge, said: “Combining the AGR system of assessing accounting and governance practice with the analysis of default and spread risk already available in BondEdge provides corporate bond-holders with a comprehensive assessment of their credit risk profile.”

Audit Integrity is a US institutional-grade financial analytics service that provides companies with quarterly accounting and governance reports to assure the accuracy of their financial disclosures.