The move towards XBRL as the standard technology for regulatory filing continues to gather momentum, India being the latest country to issue a mandate. The Indian Ministry of Corporate Affairs (MCA) now requires all listed companies and certain unlisted companies to file their balance sheets and profit and loss accounts for the year ended 31st March 2011 in XBRL format.
The key to XBRL filing is the ability to produce XBRL instance documents as efficiently as possible. Following the success of our Seahorse accounts tagging solution in the UK market, we are updating the solution for Indian companies. Seahorse already supports the Indian taxonomy and we are currently adding a series of relevant validation rules to ensure MCA compliance.