A-Team Insight Blogs

idaciti Introduces Viewer to Support iXBRL Reporting Format

Share article

Jurisdictions around the world are beginning to adopt Inline XBRL (iXBRL), leading idaciti to bring Inline XBRL Viewer, a means of working with data from corporate reporting filings,  to market.

iXBRL combines human-readable disclosures (in HTML) and machine-readable data (in XBRL) in the same filing, creating a new digital reporting format. The format reduces the amount of time it takes for data to be made available – which with XBRL took up to 15 days – and increases the quality of the data, because no human beings are required to copy and paste the information. Emily Huang, founder and CEO of idaciti says: “It’s faster and less expensive.”

The company’s Inline XBRL Viewer is designed for regulators, auditors, corporate financial users, and investors. It enables users to more easily navigate XBRL data embedded in an HTML document, according to Huang, and is aimed at the US market, where beginning in June, large public companies will need to start filing in iXBRL to the Securities and Exchange Commission (SEC) for their 10-Qs and 10-Ks.

Other countries are adopting iXBRL too. Both the UK and South Africa require the reporting format for public and even private companies. The EU’s European Securities and Markets Authority (ESMA) is demanding that companies that are issuers start using iXBRL

in January 2020. In the EU, the standard is called the European Single Electronic Format. The format is also gaining traction in Asia.

“With iXBRL, data can flow directly into the ingestion system, and that makes the consumption so much easier for regulators, the investment community, and the corporations themselves,” says Huang. “The Inline XBRL Viewer is an interactive environment for analysis without much effort. With the viewer, when the filer sends a file to the SEC, minutes later, the data becomes available from the SEC website and the solution can make real-time analysis of the information right away, all in the browser.”

Leave a comment

Your email address will not be published. Required fields are marked *

*

Related content

WEBINAR

Recorded Webinar: Managing data for the Fundamental Review of the Trading Book (FRTB)

You can listen to the recording of this webinar by registering on this page. The January 1, 2022 compliance deadline for Fundamental Review of the Trading Book (FRTB) regulation may be three years out, but if your organisation is within scope of the rules, the time to address their data management challenges is now. Will...

BLOG

RegTech Insight Awards 2019 – Shortlist Announced!

The nominations for the 2019 RegTech Insight Awards are now closed, and we are delighted to announce this year’s shortlist. Well done to everybody that entered, and sincere thanks to our advisory board for taking such painstaking care in evaluating the record number of entries we received this year. Now in their third year, The...

GUIDE

Entity Data Management Handbook – Fourth Edition

Welcome to the fourth edition of A-Team Group’s Entity Data Management Handbook sponsored by entity data specialist Bureau van Dijk, a Moody’s Analytics company. As entity data takes a central role in business strategies dedicated to making the customer experience markedly better, this handbook delves into the detail of everything you need to do to...