by Anuradha | September 21, 2017
Companies and Intellectual Property Commission (CIPC), South Africa has recently announced that all companies that currently submit their Annual Financial Statements (AFS) need to report their financial information in iXBRL.
All companies currently required to submit AFSs according to the Companies Act in PDF format will be required to submit in iXBRL.
1 July 2018
CIPC taxonomy which is based on IFRS taxonomy
Since companies would be required to report in iXBRL, the companies are required to follow a minimum tagging approach covering tagging of all applicable facts of Primary Financial Statements (PFSs) and a set of disclosures/explanatory notes.
For more detailed information click here