The IRIS CARBON® Approach
Cembre’s ESEF reporting was handled by the IRIS CARBON® team following the above-stated objectives.
1. Converting Cembre’s 2019 Annual Report To The iXBRL Format
Team IRIS CARBON® began by doing a dry run using Cembre’s 2019 annual report that had previously been published. The 2019 annual report of Cembre had to be loaded onto the IRIS CARBON® platform. This annual report was then tagged with the most relevant concepts based on the ESEF taxonomy. Where ever there was an appropriate tag missing, extensions were created and further anchoring relations were defined.
On successful creation of the 2019 iXBRL annual report, IRIS CARBON® then proceeded by validating the files to ensure that they were error-free.
2. IRIS CARBON®ʼs Training Package Smoothens The ESEF Compliance Process
To efficiently comply with the newly rolled ESEF mandate rules, it became necessary for IRIS CARBON® to organize training sessions around the fundamentals of XBRL, iXBRL, and the difference between them. IRIS CARBON® walked Cembre through the recently published ESEF taxonomy.
There were even sessions held to provide a brief overview of the IRIS CARBON® dashboard. During these, team Cembre was assisted to know how to monitor the status of the annual report reviewing process.
XBRL experts from IRIS CARBON® shared tips about validating the iXBRL files and checking for any errors or warning indications. This would help in generating supreme-quality output files for the final publishing.
3. Creating Cembre’s 2020 iXBRL Annual Report
Once Cembre approved the 2019 iXBRL annual report, IRIS CARBON® had the base set for the subsequent year’s annual filing. A similar process was followed for creating the 2020 iXBRL annual report for Cembre.
Cembre provided IRIS CARBON®ʼs team with the annual report data for the fiscal year 2020. This was further loaded on the IRIS CARBON® platform. Using the rollover function, the approved tags from the 2019 iXBRL annual report were reapplied to the iXBRL 2020 annual report. For new line items, additional tags were applied. Extensions and anchoring relationships were also embedded, wherever needed.
Once the 2020 iXBRL annual report was successfully created, team Cembre was asked to review, audit, suggest any changes, and then approve the same.
4. Preparing For The 2021 Live Filling
Similar steps were followed to comply with the 2021 ESEF live/mandatory filing. The 2020 iXBRL annual report formed the base document. The data for the annual report for the fiscal year 2021 was updated on the IRIS CARBON® platform. On the iXBRL 2021 annual report, the previously approved tags were reapplied using the rollover function.
The 2021 iXBRL annual report was then reviewed and approved by Cembre.