Through many years of involvement with the XBRL Consortium, and as a result of highly focused research and development activity, CoreFiling have initiated the introduction of several key innovations in the field of XBRL.
In our work with XII, we were the first to:
- Introduce the concept of conformance suites to enforce interoperability
- Insist on the use of revision control systems to manage the development of specifications
CoreFiling developed reference implementations for a number of XII specifications, including:
- Table Linkbase
- Inline XBRL
The company has also been responsible for a number of ground-breaking development 'firsts':
- Inline XBRL: CoreFiling devised the original concept of Inline XBRL (iXBRL), developed it and promoted it through the XBRL International working group process. The company took responsibility for building the specification and liaising between working groups and interested regulators in Europe and America to ensure that it would be consistent with their long terms needs. More than five million documents have now been filed in Inline XBRL.
- Seahorse: CoreFiling developed this innovative, cloud-based, and largely automated solution to help report preparers to convert Word and Excel documents to XBRL and iXBRL. The solution meets the requirements for disclosure preparation for both tax filing (HMRC and Revenue) and COREP, FINREP and Solvency II submissions.
- Decimate: CoreFiling developed an advanced approach to overcome some of the known obstacles in taxonomy development. Decimate guarantees that the taxonomy is packaged and automatically tested on a continuous basis - a process that happens every time a user alters the taxonomy and commits the changes back into the repository.
- Taxonomy Packages: CoreFiling developed this concept to make it easier for regulators to distribute their taxonomies and ensure that everything related to a specific taxonomy is available in a standard .ZIP file. This facilitates distribution of the taxonomy, results in much faster taxonomy loading, and gives access to a standard, immutable taxonomy with valid entry points. Following widespread market acceptance, CoreFiling donated the specification to XBRL International.