CoreFiling's Seahorse offers lifeline to XBRL filers experiencing the limitations of existing XBRL conversion systems to produce compliant COREP, FINREP and Solvency II reports.
XBRL import and review service helps filers meet the new regulatory demands.
Oxford, 23rd September 2014. CoreFiling, the leading developer of XBRL software, have announced that an XBRL import and review service for filers of COREP, FINREP and Solvency II reports is now available within its Seahorse® XBRL creation product.
Any existing COREP, FINREP or Solvency II report produced in XBRL format can now be imported into Seahorse and seamlessly converted into Excel templates based on the appropriate XBRL taxonomy. Filers can then edit these templates before Seahorse automatically produces a revised, fully validated XBRL document. If the existing XBRL report proves to be invalid, Seahorse will import the valid portion of the data into a new filing, ready for completion under the normal Seahorse workflow process.
XBRL import provides an additional level of flexibility to filers experiencing the limitations of their existing XBRL creation product and seeking a more conformant platform such as Seahorse. By choosing Seahorse, filers will no longer have to start again from scratch during the next reporting period.
In addition, Seahorse now generates a review document containing all the data in the filing. If Seahorse detects any errors, it consolidates this information within an Excel spreadsheet and shows exactly where each problem occurs within the document template, together with the relevant error message. This makes it easy to find the source of any discrepancy so that corrective action can be taken.
Philip Allen, CoreFiling's Executive Chairman said: "XBRL import will appeal to organisations that have experienced validation issues when filing XBRL documents produced by other vendors' systems. Seahorse is built on CoreFiling's True North®, widely recognised as the most reliable XBRL validation and processing engine on the market, so filers can be sure of the quality of the validation results."