Document browsing and comparison: Magnify provides the ability to browse not only the contents of your own drafts, but also the XBRL submissions of your peers, enabling useful comparisons to be drawn.
Business focus: designed with the business user in mind, Magnify can be used to full advantage without any prior XBRL knowledge.
Checklist approach: Magnify's checklist approach highlights any areas of concern, enabling you to take corrective action prior to the filing of your document.
XBRL 2.1 conformance: with the underlying XBRL validated against the 2.1 specification, you will have complete confidence in the conformance of your submissions.
Calculation verification: Magnify can help you check areas of your documents typically prone to error, such as calculations. With any inconsistencies clearly highlighted, you can see at a glance which calculations are being applied to the report, enabling you to verify that all possible calculations have been included.
Label override checking: you may be required to provide label overrides for certain taxonomy concepts to ensure correlation with the terms used in your financial statements. Magnify lets you review and verify each label override, with reference to both the original label and the underlying concept description.
Review checklist: Magnify provides you with a comprehensive compliance checklist to follow. In accordance with the rules imposed by your regulator, some checks may be fully automated whilst others may provide the option to either accept or reject a particular aspect of the document. The checklist, complete with any review decisions made either in-house or by an external auditor, can then be shared with the preparer, making it easy to focus on those aspects of the document requiring additional work. The checklist can furthermore be incorporated into your Disclosure Controls Procedure, so providing clear evidence of the review process.
For all other enquiries, please contact us.