About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Information Builders Launches New XBRL Reporting Platform

Subscribe to our newsletter

Business intelligence solution vendor Information Builders has launched a new platform for the filing of global financial reports in XBRL format. The WebFocus Financial Reporting Exchange platform is aimed at reducing the cost and complexity of filing these reports in XBRL, as required by the Securities and Exchange Commission (SEC), says the vendor.

The SEC has mandated that every public company categorised as “large accelerated filers”, with a public float of more than US$5 billion, must file in XBRL by 15 June 2009. All other large accelerated filers are slated for transition to XBRL in 2010, and every other publicly traded issuer is scheduled for changeover in 2011.

“By automating the reporting process end to end, our customers can now easily publish their performance and financial data in WebFocus for internal benchmarking while meeting the reporting requirements not only for XBRL, but also for Basel II, IFRS, and other global reporting standards,” claims Gerald Cohen, president and CEO of the vendor.

WebFocus Financial Reporting Exchange uses a UBmatrix XBRL processing engine to support the range of XBRL taxonomies. XBRL formatted financial reports are therefore generated automatically by the solution, including the validation of taxonomy structure and data, says the vendor.

Robert Kugel, senior vice president of Ventana Research, is confident that XBRL will be extended beyond its current remit of financial reporting within the US. “XBRL can and will be used for more than external financial statements. Public and private companies will use it for their internal reporting purposes because it can increase the accuracy and relevance of their management reports,” he contends.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: How to apply innovative e-comms surveillance whilst ensuring control, compliance and enhanced productivity

Remember the days when email was the predominant media for electronic communications within and among financial institutions? Fast forward to today, and email represents a declining fraction of these e-comms, many of which are hosted by modern collaborative platforms such as Microsoft Teams, Webex, Slack, and Zoom, and all of which are subject to surveillance....

BLOG

FactSet Collaborates with CID to Strengthen AI Capabilities for Clients

FactSet has teamed up with AI software specialist CID to build a joint data lake for the financial services industry. The data lake merges unstructured public web content with FactSet’s structured content sets, along with optional third-party and client content, into vast entity relationship graphs. The aim of the multi-year collaboration is to provide FactSet...

EVENT

RegTech Summit APAC

Now in its 2nd year, the RegTech Summit APAC will bring together the regtech ecosystem to explore how capital markets in the APAC region can leverage technology to drive innovation, cut costs and support regulatory change. With more opportunities than ever before for RegTech to add value, now is the time to invest for the future. Join us to hear from leading RegTech practitioners and innovators who will share insights into how they are tackling the challenges of adopting and implementing regtech and how to advance your RegTech strategy.

GUIDE

Regulatory Data Handbook 2022/2023 – Tenth Edition

Welcome to the tenth edition of A-Team Group’s Regulatory Data Handbook, a publication that has tracked new regulations, amendments, implementation and data management requirements as regulatory change has impacted global capital markets participants over the past 10 years. This edition of the handbook includes new regulations and highlights some of the major regulatory interventions challenging...