If you’ve pondered the question ‘how can I ease the iXBRL reporting process?’ then you may want to reconsider your current approach, which can be either of the following:
You prepare the AFS and outsource the iXBRL conversion to a software service provider.
Your organization prepares the iXBRL report in-house by hiring the necessary resources and support.
Your chosen approach may not be working out for a variety of reasons. You may be struggling with issues like delayed turnaround time, unsuccessful lodgements, or even a lack of in-depth expertise. In any case, the second year of filing your iXBRL report is fast approaching and now is the best time to reevaluate your current process and explore different solutions.
Consider IRIS CARBON®, a cloud-based, collaborative platform that’s been helping qualifying entities to meet the CIPC iXBRL mandate. Our world-class product and expert iXBRL team will take care of all your iXBRL needs, your way. Take a look at what sets us apart from the rest:
IRIS CARBON®: Three unique solutions in one flexible product
A major benefit of choosing IRIS CARBON® is that it’s highly customizable. We have three highly flexible solutions depending on your iXBRL requirements.
1) Disclosure Management Platform + iXBRL Component:
If you want to streamline your entire AFS preparation process, consider our Disclosure Management Platform, which comes with report integration and an in-built iXBRL component with tagging capability. It’s equipped to tackle any compliance challenge and is available as ready-to-use software.
The IRIS CARBON® platform was developed keeping in mind all the problems that one faces during the report-making process. From smart editing, spreadsheet linking, and auto-tagging to superior version management, it is rich with intuitive features to address all your report preparation needs. It’s also cloud-based so people/teams across the world can collaborate on the same file, a very crucial feature if your business functions from different locations. You can explore more features of the IRIS CARBON® platform here
IRIS CARBON® offers entities cloud-based collaborative disclosure management software to help you prepare your financial reports. The software also comes with the CIPC taxonomy as well as IRIS Bushchat®, our efficient and reliable processor for validating XBRL files to ensure a smooth lodgement as per the CIPC mandate. Read more.
2) iXBRL Software
If your want to convert the AFS to iXBRL all by yourself, you can opt for the IRIS CARBON® iXBRL solution. This will also enable your organization to keep the AFS to iXBRL process in-house.
We understand that preparing your report in iXBRL is not easy. This is why our experts conduct training workshops and webinars to give you the necessary training. Also, in case you run into difficulties along the way, our experts are always there to provide support.
“I am very pleased to have chosen IRIS CARBON® as our iXBRL services partner for the CIPC mandate. Right from the start, it was clear their grasp of the mandate was very strong. Initially, the subject matter was completely new to us. The team meticulously walked us through the process from scratch – what the mandate is, how it would work, why it is important, what we should do and how they could support us. This initial hand-holding was of immense value, and their mode of delivery by way of presentation was very sophisticated.
Their service delivery in accurately converting AFSs to iXBRL has been excellent, support is extremely good and for any queries, we received responses within minutes. One of the best things is that they guarantee a 100% error-free filing and smooth lodgement of our clients’ Annual Financial Statements iXBRL documents in the first attempt.
Their pricing is reasonable, and they also have packages that suit small customers, making the overall offering very attractive. All in all, I would definitely recommend IRIS CARBON® to anyone looking for an iXBRL solution provider.”
– Minky Wessels, Owner, Corporate Law Services (Pty) Ltd.
3) Expert Conversion Services
You can choose to outsource your iXBRL report conversion to us. In this case, our experts will act as your iXBRL team. They will tag, update and validate the AFS and convert it once it has been approved and finalized. Also, they will be available 24×7 for any possible issues.
“With IRIS CARBON®, XBRL compliance is easy with competent and accessible support at every level. The knowledge-sharing sessions through interactive webinars have worked very well. A true leader in AFS conversion to iXBRL.”
– JOE BIZJAK, Financial Services Partner, Tobi Suttner Corporate Statutory Services
You can choose to combine any of our services/solutions to form a customized package that suits your requirements. Keep in mind that you’re getting everything with zero IT costs involved and a hassle-free access to the platform that only requires a browser and active internet.
IRIS CARBON® gives its customers the flexibility to either use iXBRL as a standalone product or use it as a part of disclosure management software depending upon their compliance requirements. You can read more about our offering.
Since 2005, we have been helping companies and regulators across the world in standardizing business reporting through our XBRL and iXBRL solutions. We have been a trusted partner and have been working closely with the CIPC ever since we implemented the iXBRL platform for them. With our compliance reporting solution – IRIS CARBON®, we have helped entities such as Nedbank, Redefine properties, and Shoprite, among others, in their iXBRL filing process.
