For Twinlabʼs SEC reporting, IRIS CARBON® came up with an approach well aligned with
the derived objectives.
1. The Onboarding Phase
This phase involves building the foundation for the Q3-2021 filing. The XBRL and EDGAR HTML documents filed for Q2-2021 were loaded into IRIS CARBON®. The tags used in the Q2-2021 filing were applied to the uploaded Q3-2021 HTML file.
2. Quality Review
After the onboarding, the Q2-2021 XBRL file was carefully reviewed and validated. An Excel report was prepared by the IRIS CARBON® XBRL experts, suggesting changes to the tagging along with their recommendations and reasoning. This report was then presented to the client for approval. With the client’s consent, the changes were incorporated into the Q3-2021 template created by IRIS CARBON®.
3. Setting Up Q3-2021 Document And Spreadsheet
Once the foundation was laid, IRIS CARBON® developed the Q3-2021 filing document, which included creating a master spreadsheet for Twinlab. This allowed the filer to edit the document as needed, and changes made in the master spreadsheet were automatically reflected in the main document. The quality review improvements were also incorporated into this document.
4. Hands-on Training Program
IRIS CARBON® conducted a hands-on training session for the Twinlab team, which helped them achieve a high-quality SEC iXBRL filing and familiarized them with the platform for future filings.
5. Ongoing Support Needed By The Client
The expert team at IRIS CARBON® provides dedicated support to overcome challenges related to complying with the SEC iXBRL mandate. They ensured ongoing support was provided to Twinlab whenever needed, including
- tagging any new line items added, assisting with formatting the document,
- conducting a full and final review of the Q3-2021 document before filing and suggesting changes, and
- ensuring a successful test-filing and live-filing.
5. Roll Forward Set-Up For Successive Filings
IRIS CARBON® team created roll-forwards for Twinlab for all of its upcoming filings.