Time is running out for submission of the first COREP filings in XBRL

It’s been a hectic week, with lots of enquiries about our Seahorse® XBRL conversion solution for COREP filings. It’s true that some callers have been under the misguided impression that the first filings need to be made by the end of May, but it’s obvious there are still lots of financial institutions out there that have still not settled on a suitable reporting solution to handle their first regulatory filings under the new CRD IV regime.

 
The deadline for submission of the first reports in XBRL was, in fact, moved back to the 30th June, but it’s still not long if you’ve not settled upon a solution.

 
If you’re still looking for a simple, cost-effective solution to the compliance issue, then do take a look at Seahorse. With its simple to understand workflow, Internet browser-based interface and highly secure environment, Seahorse provides an easy-to-use way of converting your COREP reports from an Excel spreadsheet into the XBRL document needed for filing. As a cloud-based application, several users can work simultaneously on individual report tables, creating further efficiencies and considerable time saving in the XBRL report production process.

 
The good thing, too, is that Seahorse is underpinned by the same stringent XBRL validation that is being used by the FCA/PRA in the UK for the receipt of filings into GABRIEL.

 
Take a look at the Seahorse video to see how quick and simple it can be to convert your data.

 

Come and talk to CoreFiling’s team of XBRL experts during the XBRL International Conference, Orlando, June 9-11th

The 2014 XBRL International Conference is almost upon us. This year it will be held in Orlando, Florida from June 9-11th, profiled under the title Better Data for Better Decisions. Subjects such as government-wide (SBR) programs, big data and successful application of XBRL technology for regulators are high on the agenda. CoreFiling are taking the opportunity to continue to support the XBRL standard and community by sending several highly knowledgeable speakers to share their expertise on these subjects and more.

Do come along and meet the CoreFiling team!

CoreFiling’s speakers will be covering a wide range of XBRL topics during the track sessions, demonstrating the breadth and depth of our XBRL expertise. Below is a schedule of the tracks in which CoreFiling will be participating.

Tuesday, June 10:
Government track – What is SBR?  Steps to Harmonize Reporting Across Government Agencies
The session will discuss how SBR works, and the steps required to cut red tape across different government agencies by harmonizing the data needs of the public sector. You’ll hear about the kind of formal standards needed to make it work in addition to XBRL and get an understanding of the crucial role government plays by publicly adopting standards and mandating their use.

Levine Naidoo, CoreFiling’s VP of Partner Strategy and Business Enablement, will join a panel of international experts discussing the key steps required to create data harmonization. In prior roles he has worked as global subject matter expert and practice lead for analytics led regulatory compliance and has developed a substantial amount of techniques and approaches to implement XBRL production and consumption solutions.

Technical/Workshop track – Regulatory Implementation Guidance
This interactive session is designed to ensure that regulators, consultants, policy makers, technologists and project managers learn together about the pieces that make up a successful XBRL implementation. Participants will be guided along a pathway that covers the major aspects of these important projects. They will work together to capture their ideas and exchange their experiences, as the facilitators walk them through the process from end to end.

Ian Hicks, CoreFiling’s Director of Professional Services, is leading this session. Ian is responsible for the ongoing support of key client accounts. He is also the current Chair of the Best Practices Board (BPB) for XBRL International.

Ben Russell, Senior Consultant, CoreFiling Australia, is a speaker and facilitator for this session. Ben is an experienced consultant, XBRL subject matter expert and CoreFiling product specialist. He is also the current Chair of the XII Taxonomy Architecture Group Task Force (TAG-TF).

Technical/Workshop track – Using iXBRL
Marrying HTML and XBRL files can reduce cost and risk in preparation. This technique is being used successfully in many markets but not at all in others. This session will provide successful case studies with best practices and identify implementation pitfalls to avoid. A must attend session for those wondering what the impact of iXBRL will be, or might be, in their environment.

Philip Allen, CoreFiling’s Executive Chairman, joins the panel of speakers in his capacity as Editor of the Specifications for Inline XBRL.  Philip is a leading advocate of the iXBRL format and created the original Inline XBRL specification.

Wednesday, June 11:
Technical/Workshop track – Techniques in Processing Large Instance Documents
This session will cover problems and potential solutions in processing large instance documents. The challenge this poses can affect both government and business implementations.

Jon Siddle, CoreFiling’s Head of Product Management, will be speaking during this session. As a subject matter expert, Jon has worked with regulators and regulated entities to align XBRL solutions with both standards and requirements. He plays an active role in the XBRL International Working Groups and is the lead author of the Table Linkbase specification.

All our speakers will be happy to engage in further discussions with you during the conference, so do seek them out, and be prepared for a stimulating, informative conversation.