The IRIS CARBON® Approach
With these previously stated project objectives in mind, IRIS CARBON® handled Coop Pank’s ESEF reports in the following manner:
1. Setting Up Coop Pank’s 2019 Document
IRIS CARBON® started by setting up the Coop Pank’s 2019 base document by using their already published 2019 annual report. This required loading the 2019 annual report onto the IRIS CARBON® platform. Appropriate tags were then selected from the ESEF taxonomy and applied to the base document.
XBRL experts at IRIS CARBON® came across situations where there was no specific element in the ESEF taxonomy matching the line items mentioned in the annual report. At that point, they created custom elements (also known as extensions) to map the unique or company-specific disclosures. Anchoring relationships were then used to further define these extensions.
Team IRIS CARBON® then validated the files to verify they were error-free.
2. Training Sessions On Reviewing The iXBRL Tagging
Once the base document was ready, IRIS CARBON® planned training sessions around the ESEF mandate and review module of the platform. IRIS CARBON® walked team Coop Pank through the ESEF taxonomy. Several important concepts on ‘how to review the iXBRL documents’ and ‘validating the files using an integrated XII certified Bushchat validator’ were discussed. With this information in hand, team Coop Pank was able to conduct a thorough assessment of tags in the newly generated 2019 iXBRL annual report.
The workshops were held using a variety of extensive educational videos on using the IRIS CARBON® platform’s review module and the dashboard. Video recordings were maintained for future reference.
3. 2020 iXBRL Annual Report Was Processed by IRIS CARBON® Before Audit
As a result of Coop Pank’s review and approval of the iXBRL 2019 annual report, IRIS CARBON® had the base ready for the iXBRL 2020 annual report. Now when it came to the ESEF 2020 filing, a similar procedure was followed. Coop Pank provided the data for the fiscal year 2020, this was further loaded on the IRIS CARBON® platform. Using IRIS CARBON®’s rollover function, the previously approved tags by team Coop Pank were used to reapply on the iXBRL 2020 annual report. Where necessary additional tags, extensions, and anchors were created and added to the 2020 XBRL document.
Once the iXBRL 2020 annual report was processed Coop Pank was asked to review the report and then approve the same. Following this process, the final iXBRL 2020 annual report was audited and taken ahead for test-filing.
In 2021, Coop Pank voluntarily filed its 2020 annual report in iXBRL format.
Click here to access Coop Pank’s iXBRL 2020 annual report in ESEF format.
4. Creation And Submission of 2021 iXBRL Annual Report
On receiving the data for the 2021 annual report, IRIS CARBON® started processing the iXBRL documents. The steps and groundwork conducted for developing the 2020 iXBRL annual report were repeated to create a high-quality 2021 iXBRL annual report.
Team Coop Pank then reviewed and approved the 2021 iXBRL annual report. When it came to reviewing the ESEF annual report, we found the Coop Pank team had become well-acquainted with the review module of the IRIS CARBON® platform because of our educational videos. The stage was now set for the 2021 iXBRL annual report’s live filing.
The final 2021 iXBRL annual report was then audited and filed with the regulator per mandatory guidelines. Team Coop Pank published the iXBRL report and complete ESEF iXBRL reporting package, on their website.