Global XBRL major, IRIS Business Services limited (BSE: IRIS) today announced that it will partner
EOH, South Africa's biggest information services company to offer its iXBRL filing software to
enterprises in South Africa.
In a statement released here today, the company CEO, S Swaminathan announced that the cloud based product, IRIS Carbon will help South African companies comply with a mandate of the Companies & Intellectual Property Commission (CIPC) which becomes effective from July 2018. Under the mandate, some 100,000 South African companies have to submit their Annual Financial Statements in a reporting standard called iXBRL.
"We are extremely pleased to be working with IRIS on this very important project which is going to have an extremely positive impact for businesses in South Africa. EOH as the largest Information Services Company in Africa, intends to expand the IRIS suite of products into the rest of Africa," says Vivian Pather, Head of Information Services of EOH.
It may be pointed out that the technology for CIPC to receive such data is also being provided by IRIS in partnership with EOH. "Just as we are ClPC's trusted partner for XBRL, we hope that we emerge as the trusted compliance partner for all of South Africa," Swaminathan added.
IRIS is a global compliance solutions provider. One or more of the company's solutions is in use in
some 22 countries around the world. The company is listed on BSE.
EOH is a South African IT major listed on the JSE. With 134 points of presence in South Africa and Africa, EOH is able to deliver services to customers across all major industries