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XBRL and iXBRL filing for companies

XBRL and iXBRL filing mandates place delivery and assurance burdens on corporates, banks and insurance companies around the world. CoreFiling provide a number of best-of-breed solutions catering for the new XBRL reporting mandates. In particular, we support report preparers who need to file under the following XBRL regimes:

HMRC Corporation Tax filing in iXBRL

CoreFiling provide a complete range of validation, review and tagging applications to speed up the completion of Inline XBRL (iXBRL) filings and to provide assurance audit trail. Tools such as Seahorse that simplify the tagging of accounts documents are becoming essential now that HMRC's minimum tagging arrangements are being abolished with the introduction of the new FRS 101 and 102 taxonomies. Learn more about the new taxonomies by downloading our Introduction to FRS 101 and 102 whitepaper.

Revenue filing in iXBRL

Revenue is now in Phase 2 of its iXBRL Corporation Tax filing programme, under which companies in the Large Case Division and, since October 2014, those in the Non Large Case Division must submit their financial statements in iXBRL format via the Revenue Online Service. Currently, the reports are prepared in conformance with the Irish GAAP taxonomy, but new taxonomies based on IFRS will shortly be introduced. Our Seahorse iXBRL creation software will be updated to include the Irish extensions to the FRS taxonomies as soon as they are made available.

Relevant products for HMRC and Revenue filing

  • Seahorse is a browser-based tagging tool which automatically converts individual Word or Excel files into ready-to-file Inline XBRL (iXBRL) documents. Seahorse runs as a full-availability online service.
  • Magnify is an XBRL/iXBRL desktop review tool, which combines automated validation with manual checklists, for use by either the accounting team or the outsourced tagging service.
  • True North has long been recognised as the fastest and most complete XBRL validator. True North provides enterprise-quality enforcement of specification and taxonomy constraints on XBRL documents, as part of an integrated reports production system.

SEC EDGAR filing in XBRL

The SEC EDGAR filing program has been in operation for several years, but until recently there has been little to compel filers to care very much about the quality of the XBRL documents being submitted. However, with the sending out of the so-called 'CFO Letters' in July 2014, the SEC showed that its attitude towards delinquent filers is hardening. The emphasis on the assurance of filings is growing and report preparers need credible validation and review systems.

Products relevant to SEC EDGAR filing

  • True North Long recognised as the fastest and most complete XBRL validator, True North provides enterprise-quality enforcement of specification and taxonomy constraints on XBRL documents, as part of an integrated reports production system.
  • Magnify is an XBRL desktop review tool, which combines automated validation with manual checklists, for use by either the CFO's department or the assigned filing outsourcer.
  • XBRL Consistency Suite comprises a body of rules developed to meet assurance requirements for EDGAR filings. They run within Magnify, to provide a single assurance workflow.

COREP and FINREP filing in XBRL under CRD IV

With the introduction of XBRL reporting under the CRD IV mandate, financial institutions now face a new set of challenges. Creating the XBRL reports for Own Funds and Leverage, Large Exposures, Net Stable Funding Ratio, Liquidity Coverage Ratio and Asset Encumbrance is no easy task.

Pillar 3 filing in XBRL under Solvency II

Although the start date for Solvency II is January 2016, insurers must begin now preparing for the changes and challenges posed by the new XBRL reporting regime.

Products relevant to CRD IV and Solvency II filing

Please see the separate product and solutions overview to learn how we are helping CRD IV and Solvency II filers to meet the current challenges.

Automated XBRL review

Additionally, we offer a simple way to review XBRL data in order to achieve consistent filings.