IRIS Carbon iXBRL software
ConsultX has partnered with IRIS Business Services Limited (India) and Xpert Decision Systems (XDS), an EOH group company, in delivering an iXBRL compliance solution with their industry-leading Iris Carbon cloud software.
The Companies and Intellectual Property Commission of South Africa (CIPC) has chosen to mandate the submission of financial statements in XBRL format from 01 July 2018. CIPC chose XBRL as part of an evolution of their systems to improve on existing methods of digital financial reporting. The XBRL programme aims to increase automation, improve efficiency, reduce costs and allow greater scope for analysis and use of data.
CIPC selected IRIS iFile software as the regulatory e-filing platform into which South African companies will be required to submit their financial statements in XBRL. IRIS Carbon software was developed on the back of the iFile platform, making IRIS Carbon the first choice iXBRL conversion software for submitting financial statements to CIPC.
For more information or a quote for XBRL submission of your AFS contact Craig on 081 753 6198 or contact us here.
Why use IRIS Carbon?
- Is was developed by the same team that developed the CIPC eFile platform – this means it is 100% compatible – no issues with submission errors. No time wasted fixing validation errors and re-submitting. It also means greater accuracy in tagging the correct XBRL fields.
- It is a world class product – used in various other international markets including USA, UK, India and Europe. It is trusted by international regulatory bodies for reporting in XBRL. If you care about risk and compliance, then you care about using the best available tools to manage it.
- It is supported by a vast team with a wealth of knowledge and experience, ensuring continuous product support and development, staying on the cutting edge of XBRL and regulatory developments. When the next regulatory change occurs, you will be on top of it.
- The tagging process is controlled and managed within the IRISCarbon platform, allowing users to work on selected sections of your AFS and other users review and approve the final submission. Reducing risk, saving time and ensuring an accurate submission.
More about IRIS Carbon:
- IRIS CARBON®, being a cloud based platform, allows documents to be stored at one place. The collaboration features allow users spread across multiple locations to work together on the same document. The current, most updated version of the document is always available to every user. Since all processes are visible on screen, in one place, work is error-free. IRIS CARBON® provides a clear, current view of the document from start to finish.
- IRIS CARBON® is designed to not only make the first creation and submission of documents easier, but it is loaded with features like Roll Forward which facilitate simpler successive filings.
- IRIS CARBON® comes with the service backing of a company that has perhaps the largest number of XBRL professionals in the world, their work spread across 15 countries, and a record of working with over 12000 complex documents in the US and UK alone.