Founding President of XBRL International Joins Clarity Systems

TORONTO, March 26 /PRNewswire/ – Clarity Systems, a leader in corporate
performance management (CPM) and external reporting solutions, today announced
that J. Louis Matherne has been appointed as Director, XBRL Services for the
company, effective immediately.

“Louis has been deeply involved in the XBRL initiative since its
inception, highlighted by his service as the founding president of XBRL
International and involvement with the U.S. Securities and Exchange
Commission’s XBRL Taxonomy Project, where he was a member of the XBRL US team
that developed the US GAAP taxonomies,” says Mark Nashman, President and CTO,
Clarity Systems. “His appointment is another example of Clarity’s commitment
to providing a complete solution for external reporting which integrates XBRL
into the process and supplements it with unparalleled consulting services and
domain expertise.”

Prior to joining Clarity and the SEC project, Matherne was a director with
the American Institute of Certified Public Accountants (AICPA) in several
capacities, including Auditing Standards, Business Assurance and Advisory
Services, and XBRL. In his capacity with Clarity, Matherne will support
engagements that deliver seamless XBRL functionality to clients, while feeding
back valuable ‘real world’ information to the Clarity FSR product development
team.

“Clarity FSR is the embodiment for me of the ‘holy grail’ of XBRL
solutions; an implementation that my colleagues and I envisioned ten years ago
when we began drawing up the XBRL standard,” said Matherne. “Clarity’s
integrated approach to XBRL as a key element of a larger external reporting
and financial disclosure process impressed me as the way to go, and a
compelling reason to join the company,” Matherne added.

Matherne’s arrival at Clarity comes at an opportune time for
publicly-listed companies seeking advice and solutions, as the SEC deadlines
for firms to tag-and-file in XBRL is fast approaching.

“The 500 largest firms listed in the US must ensure that their statutory
filings after June 15 are tagged in XBRL, and many thousands more must get in
step by June 15, 2010,” noted Matherne. “Visionary companies will see the
merits of owning the entire report-creation, tagging and filing process, using
Clarity FSR as their foundation,” said Matherne. “Ultimately, this isn’t a
technology decision as much as it’s an accounting one and CFOs shouldn’t be
abdicating this responsibility by outsourcing it to service providers, or
adding a bolt-on product at the end. This is about controlling the process to
reduce risk, improve efficiency and avoid errors from start to finish,” says
Matherne.

Clarity Systems

Clarity Systems delivers software solutions to the Office of Finance. Our
software helps large and mid-market organizations around the world improve
their budgeting, planning, consolidations, scorecarding and management
reporting processes, and also automates their external reporting processes to
support the production of regulatory and statutory reports. Our unified
applications help CFOs reduce risk while simultaneously improving operational
efficiency. For more information, please visit our website at
www.claritysystems.com or call us at 1-877-410-5070 in North America or 44 (0)
2031784038 in the UK.

SOURCE Clarity Systems Limited