How Integix by Ez-XBRL Simplifies SEC & IFRS Reporting

Financial reporting requires precision, timeliness, and strict compliance with regulations set by authorities such as the Securities and Exchange Commission (SEC) and the International Financial Reporting Standards (IFRS) Foundation. Adapting to evolving requirements while ensuring accuracy can be challenging for organizations. Integix by Ez-XBRL offers a comprehensive solution, simplifying the reporting process and enabling companies to efficiently meet SEC and IFRS compliance standards.

Understanding SEC and IFRS Reporting Requirements

SEC Reporting Obligations

The SEC mandates that publicly traded companies in the United States adhere to rigorous reporting standards to maintain transparency and protect investors. Key reporting forms include:

Form 10-K: An annual comprehensive report providing a detailed overview of a company’s financial condition, including audited financial statements.

Form 10-Q: A quarterly report that offers unaudited financial statements and provides a continuing view of the company’s financial position during the year.

Form 8-K: A current report used to announce major events that shareholders should know about, such as acquisitions, bankruptcies, or changes in executive leadership.

These reports must be filed electronically through the SEC’s EDGAR system, ensuring public accessibility and transparency.

Securities and Exchange Commission

IFRS Reporting Standards

The IFRS Foundation, through the International Accounting Standards Board (IASB), develops a single set of globally accepted accounting standards. These standards aim to bring transparency, accountability, and efficiency to financial markets worldwide. Companies reporting under IFRS are required to prepare financial statements that include:

Statement of Financial Position: Details about assets, liabilities, and equity.

Statement of Comprehensive Income: Information on income and expenses, including profit and loss components.

Statement of Changes in Equity: Insights into changes in equity during the reporting period.

Statement of Cash Flows: Data on cash inflows and outflows, categorized by operating, investing, and financing activities.

Adherence to IFRS ensures consistency and comparability of financial information across international boundaries.

Challenges in Meeting Reporting Standards

Complying with SEC and IFRS reporting requirements presents several challenges:

Complexity of Standards: Both SEC and IFRS regulations are intricate, requiring a deep understanding to ensure accurate reporting.

Frequent Updates: Regulatory bodies periodically update standards, necessitating that companies stay informed and adapt their reporting practices accordingly.

Resource Intensiveness: Traditional reporting processes can be time-consuming and labor-intensive, often requiring significant manual effort.

Risk of Non-Compliance: Failure to comply can lead to legal repercussions, financial penalties, and damage to a company’s reputation.

How Integix by Ez-XBRL Simplifies Reporting

Integix is an integrated, cloud-based reporting solution designed to address these challenges effectively. Key features include:

Comprehensive Multi-Regulatory Compliance with Integix

Integix by Ez-XBRL is a cloud-based financial reporting platform designed to support companies in complying with multiple regulatory frameworks across different jurisdictions. It streamlines the reporting process, ensuring accuracy, efficiency, and adherence to compliance mandates in various markets. Below is a detailed breakdown of how Integix helps organizations meet specific regulatory requirements:

1. SEC (USA) – U.S. Securities and Exchange Commission Compliance

Publicly traded companies in the U.S. must submit financial disclosures to the SEC through the EDGAR (Electronic Data Gathering, Analysis, and Retrieval) system. These filings ensure transparency and investor protection. Integix simplifies the preparation and submission of:

Form 10-K – An annual report detailing a company’s financial performance, risk factors, and management discussion.

Form 10-Q – A quarterly report providing unaudited financial statements and operational updates.

Form 8-K – A current report filed to disclose major corporate events such as mergers, executive changes, or bankruptcy.

By automating XBRL tagging, ensuring EDGAR compliance, and allowing for real-time collaboration, Integix helps companies meet SEC reporting requirements efficiently and accurately.

2.Closed-End Fund (CEF) Tagging: Key Insights

Closed-End Funds (CEFs) are publicly traded investment funds requiring accurate tagging for regulatory compliance and transparency. Proper tagging enhances data usability and investor confidence.

Why Tagging Matters

SEC Compliance – Required filings (N-2, N-CSR, POS 8C, etc.)

Data Accuracy – Standardized reporting improves accessibility.

Investor Transparency – Clear insights into NAV, fees, and financials.

Tagging Workflow

Map to SEC Taxonomy – Assign correct financial tags (e.g., )

Validate Data – Ensure accuracy before submission.

Use Automation – Tools like Integix streamline iXBRL conversion & validation.

Best Practices

Stay updated on taxonomy changes.

Validate reports before submission.

Ensure consistent tagging across filings.

Accurate tagging supports regulatory compliance and investor trust. Is your reporting process optimized?

3. FERC (USA) – Federal Energy Regulatory Commission Compliance

Companies operating in the U.S. energy sector, including electric utilities, natural gas companies, and oil pipelines, must file reports with the Federal Energy Regulatory Commission (FERC). These filings, submitted in XBRL format, help regulators monitor financial and operational data within the energy industry.

Integix supports FERC compliance by:

Automating the conversion of financial data into FERC XBRL formats.

Ensuring alignment with FERC Form Nos. 1, 2, 6, and 60 (covering electric, gas, and oil utilities).

4. ESMA (EU-ESEF Filers) – European Single Electronic Format Compliance

The European Securities and Markets Authority (ESMA) mandates that public companies listed in the European Union (EU) submit financial reports in ESEF (European Single Electronic Format), ensuring greater transparency and comparability across EU markets.

How Integix ensures ESEF compliance:

Converts financial statements into Inline XBRL (iXBRL), the standard format for ESEF reporting.

Provides automated tagging and validation to align with IFRS Taxonomy.

Supports direct filing to national authorities in EU member states.

5. CIPC (South Africa) – Companies and Intellectual Property Commission Compliance

The Companies and Intellectual Property Commission (CIPC) in South Africa mandates that businesses submit Annual Financial Statements (AFS) in iXBRL format to enhance regulatory transparency.

Integix facilitates CIPC compliance by:

Enabling seamless XBRL tagging of financial statements.

Ensuring reports align with CIPC taxonomy and South African accounting standards.

Providing real-time collaboration tools for audit and review before submission.

6. HMRC (UK) – Her Majesty’s Revenue and Customs Compliance

Companies in the United Kingdom (UK) must file financial statements and tax returns in iXBRL format with Her Majesty’s Revenue and Customs (HMRC) to meet statutory reporting obligations.

Integix supports HMRC compliance through:

Automating the tagging of financial statements using HMRC iXBRL taxonomy.

Ensuring seamless integration with UK GAAP, IFRS, and FRS 101/102 standards.

Enabling direct submission to HMRC via a certified XBRL reporting tool.

7. ISA (Israel) – Israel Securities Authority Compliance

Companies listed on the Tel Aviv Stock Exchange (TASE) must comply with reporting requirements set by the Israel Securities Authority (ISA). These filings ensure corporate transparency and investor confidence in the Israeli financial markets.

Integix aids ISA compliance by:

Supporting XBRL formatting and tagging in line with ISA taxonomy requirements.

Providing a collaborative platform for preparing and validating financial disclosures.

Ensuring compatibility with IFRS standards, which Israeli companies commonly use for reporting.

Real-Time Collaborative Environment with Integix

In today’s fast-paced regulatory landscape, financial reporting requires seamless collaboration between multiple stakeholders, including finance teams, auditors, compliance officers, and external consultants. Integix by Ez-XBRL is designed to facilitate this collaboration through its cloud-based, real-time editing and review capabilities, ensuring accuracy, efficiency, and compliance across jurisdictions.

Key Benefits of Integix Real-Time Collaboration Features

1. Cloud-Based Platform for Global Access

Integix is a fully cloud-based solution, allowing users to access, edit, and review financial reports from anywhere in the world. This eliminates the need for cumbersome email exchanges or file versioning issues, ensuring that teams can work on a single, centralized document in real time.

2. Simultaneous Editing and Live Updates

Multiple users can work on the same report simultaneously without conflicts.

Changes are updated instantly across all views, ensuring that the latest version is always available.

Reduces duplication of efforts and minimizes the risk of errors caused by outdated information.

3. Seamless Collaboration Across Departments and Locations

Finance teams, legal teams, auditors, and compliance officers can collaborate within a unified environment.

Comments, suggestions, and revisions can be tracked in real time, improving transparency and accountability.

Eliminates bottlenecks often caused by waiting for approvals or feedback from different stakeholders.

4. Enhanced Accuracy and Compliance

The platform provides built-in validation checks, flagging inconsistencies or non-compliance issues instantly.
Users can review and correct errors before submission, ensuring compliance with SEC, FERC, ESMA, CIPC, HMRC, and ISA regulations.

Audit trails and version history help track changes, ensuring transparency in financial disclosures.

5. Secure and Controlled Access

Role-based permissions allow organizations to restrict access to specific sections of the report, ensuring data confidentiality.

Activity logs provide a detailed record of all changes made, helping with compliance and internal audits.

How Integix Transforms Financial Reporting Workflows

Traditional Reporting Challenges:

Multiple document versions causing confusion.

Delayed approvals due to scattered teams.

High risk of errors from manual consolidation.

Compliance issues due to last-minute revisions.

With Integix:

Real-time updates and centralized data.

Faster approvals with simultaneous access.

Automated compliance checks for accuracy.

Secure collaboration with controlled access.

Single-Source Input with Instant Updates: Ensuring Accuracy and Consistency

In the fast-evolving world of financial reporting, maintaining accuracy and consistency across multiple reports is a critical challenge. Integix by Ez-XBRL simplifies this process with its Single-Source Input feature, ensuring that any changes made to financial data are instantly reflected across all relevant documents and formats, reducing errors and improving efficiency.

Key Benefits of Single-Source Input in Integix

1. Elimination of Data Redundancy and Inconsistencies

One central data source for all reporting needs eliminates the risks of duplicate or conflicting information.

Reduces manual adjustments across different reports, ensuring all outputs remain consistent.

Helps in regulatory compliance by ensuring that every financial report reflects the most recent and accurate data.

2. Instantaneous Updates Across All Formats

Any changes made in the platform are automatically updated in XBRL, xHTML/Inline XBRL, and other output formats.

No need for manual reformatting or multiple revisions—ensuring efficiency and precision in financial disclosures.

Ideal for organizations filing under SEC, FERC, ESMA (ESEF), CIPC, HMRC, and ISA regulations, where accuracy is paramount.

3. Streamlined Financial Reporting for Faster Submissions

Enables real-time validation of reports, identifying potential errors before submission.

Improves collaboration across departments, as all stakeholders work with a single, up-to-date dataset.

Reduces filing preparation time, ensuring timely compliance with regulatory deadlines.

4. Compliance-Ready Output with Interlinked Facts

The system automatically interlinks financial facts, ensuring consistency across statements and disclosures.
Reduces the risk of discrepancies between different sections of a financial report, helping organizations avoid compliance issues.

Enhances auditability with clear tracking of data changes and automated error detection.

5. Increased Efficiency with Minimal Manual Effort

Users no longer need to manually update multiple documents—saving time and reducing workload.

The platform ensures that all modifications are applied universally, eliminating repetitive tasks and enhancing productivity.

Ideal for large enterprises that require complex financial reporting across multiple jurisdictions.

How Single-Source Input Transforms Financial Reporting

Traditional Reporting Challenges:

Data inconsistencies due to manual entry across multiple reports.

High risk of human errors and formatting discrepancies.

Delays caused by repetitive data updates across different formats.

With Integix:

One-time data entry for consistent reporting across all outputs.

Instant updates in XBRL, xHTML/Inline XBRL, and other formats.

Faster, error-free financial reporting with real-time validation.

Certified Accuracy and Compliance: Ensuring Trust in Financial Reporting

Regulatory compliance and accuracy are critical for financial reporting, as even minor errors can lead to compliance failures, penalties, and reputational damage. Integix by Ez-XBRL ensures certified accuracy and adherence to global standards, providing businesses with a trusted and reliable reporting solution.

XBRL International Certification: A Mark of Excellence

Integix has been certified by XBRL International in the reporting platform category, demonstrating that it meets the highest standards for:

1.Data Accuracy: Ensuring precise financial reporting without inconsistencies.

2.Regulatory Compliance: Meeting global financial reporting requirements, including SEC, FERC, 3.ESMA (ESEF), CIPC, HMRC, and ISA mandates.

4.Reliability: Providing users with a dependable solution for creating, validating, and submitting reports.

Why Certification Matters for Financial Reporting

1. Ensures Compliance with Global Regulations

Certified by XBRL International, ensuring that reports generated meet the latest financial reporting mandates.

Supports compliance with Inline XBRL (iXBRL) and xHTML standards for regulatory submissions.

Reduces the risk of compliance-related penalties and delays.

2. Enhances Report Accuracy and Reliability

Built-in data validation and automated checks minimize reporting errors.

Ensures consistent tagging and data integrity across different financial statements.

Generates error-free XBRL and Inline XBRL submissions for regulatory bodies.

3. Recognized by Regulators for Seamless Submission

Certified platforms like Integix are trusted by global financial regulators for their ability to produce structured, machine-readable financial data.

Provides confidence to auditors, investors, and regulatory authorities in the accuracy of reports.

Simplifies submission to the SEC (USA), ESMA (EU-ESEF), and other regulatory bodies.

4. Reduces Compliance Risk for Businesses

Organizations using non-certified platforms may face formatting issues, data inconsistencies, and rejected filings.
Certified accuracy ensures that all reports are compliant with the latest XBRL and iXBRL requirements.

Helps businesses avoid manual rework, compliance risks, and potential fines.

Staying Abreast of Regulatory Changes

Regulatory bodies like the SEC and IFRS Foundation frequently update their standards to reflect evolving market conditions and financial practices. For instance, the SEC has recently introduced new guidance affecting asset managers’ reporting requirements, emphasizing the need for more detailed disclosures.

Similarly, the IFRS Foundation continues to develop and promote standards that enhance financial reporting globally.
Integix is designed to adapt to these changes seamlessly. Its dynamic framework ensures that updates to reporting standards are incorporated promptly, allowing companies to remain compliant without overhauling their existing processes.

How Ez-XBRL is Leading AI-Powered Reporting

At Ez-XBRL, we leverage AI to simplify, automate, and enhance financial and ESG reporting. Our proprietary AI models ensure:

1. AI-Driven Tagging & Automation

3-Click Tagging – Move from a draft report to a fully tagged document in just three clicks.

Smart Taxonomy Selection – AI suggests the best XBRL or ESG taxonomy tags for accuracy.

Peer Benchmarking – Compare reports with industry peers to ensure best practices.

2. Streamlined Review & Compliance

Error-Free Reporting – AI flags issues before submission, minimizing regulatory risks.

Comprehensive Validation – Ensures adherence to SEC, IFRS, ESMA, and other standards.

Audit-Ready Reports – AI validates compliance and ensures high-quality disclosures.

3. Unmatched Security & Confidentiality

AI-Powered Compliance – Secure AI ensures data confidentiality and accuracy.

ISO 27001:2022 Certified – Industry-leading security standards protect financial data.

Closed AI Models – Ensuring unpublished reports remain secure.

4. Enhanced Efficiency & Scalability

50% Faster Processing – AI reduces reporting time while improving accuracy.

Fewer Errors & Revisions – Automating compliance reduces costly errors.

Scalability for Large Enterprises – AI handles large datasets effortlessly.

Why Businesses Need AI for Financial Reporting

With evolving regulations, ESG frameworks, and investor expectations, businesses need to adapt to AI-driven reporting solutions.

Key Benefits of AI in Disclosure Management:

Time Savings – Automate manual processes, reducing workload.

Regulatory Compliance – Stay ahead of financial and ESG disclosure requirements.

Accuracy & Consistency – Minimize reporting errors with AI-driven validation.

Data-Driven Insights – Improve strategic decision-making.

Partner with Ez-XBRL to Transform Financial Reporting

Navigating the complexities of SEC and IFRS reporting requires a robust, efficient, and adaptable solution. Integix by Ez-XBRL stands out as a premier platform that not only streamlines compliance and reporting but also enhances accuracy, efficiency, and transparency through AI-powered automation.

With intelligent data extraction, smart XBRL tagging, real-time validation, and seamless integration, Integix ensures that organizations stay ahead of regulatory changes while reducing manual effort and the risk of errors.

Contact us today:

Call Us : +1 (703) 745-2327
Email :info@ez-xbrl.com