Who uses True North?
True North is in active use all over the world, in some of today’s most ground-breaking XBRL projects, including:
- HM Revenue & Customs, UK
- The Ministry of Finance, The Netherlands
- OMX, Nordic Stock Exchange, Sweden
- CNMV, Spanish Securities Regulator
- Bolagsverket, Swedish Companies Registration Office
Financial Conduct Authority
The UK FCA has chosen the True North XBRL Enterprise XBRL Processor for its EBA (European Banking Authority) reporting requirements and validation of COREP and FINREP filings from the UK financial market.
The Netherlands Taxonomy Project
True North was chosen alongside two competitive validation products for comparative testing as part of the Dutch Ministry of Finance project to create a dedicated taxonomy. However, True North is the only one now retained as part of the ongoing live system, as it has far outshone the competition by turning in a performance rated at 40 times faster than its closest rival.
Companies registered in England and Wales submit their annual accounts to Companies House. Today, over 10% of those submissions arrive via an online portal, where they are validated by True North. Using True North’s logs, Companies House can analyse the reasons behind any rejected accounts, incorporate additional checkpoints or tailored customer help, which in turn has led to an improved, more responsive customer service. So great has been the success of this validation process that Companies House has now made it available as a separate online service so that software development companies can test the output documents from their software against the XBRL standard.
CIMA, Cayman Islands Monetary Authority
CIMA, the Cayman Islands Monetary Authority, is regulator to the majority of the world’s leading hedge funds, receiving annual audited accounts from each individual fund. Over the past few years the hedge fund market has exploded and CIMA suddenly faced the challenge of how to process the huge quantities of paper reports it was now receiving, as well as how to extract meaningful statistical information desired by international bodies and other regulatory agencies. To see how they did it with CoreFiling download our case study.
The product has been endorsed by many leading systems integrators for whom it represents the benchmark product, chosen for its speed, scalability, depth of coverage of the XBRL specification and suitability for inclusion in enterprise architectures.
Many additional True North customers may be found on our Customers page.