Ez-XBRL Solutions announces support for the IFRS taxonomy for SEC filings

Ez-XBRL Solutions announces support for the IFRS taxonomy for SEC filings

By Rajan 5 October, 2017

Ez-XBRL Solutions, Inc. announced today that its products and services have been enhanced to enable foreign filers that use the International Financial Reporting Standard (IFRS) to file their financial statements and related disclosures with the SEC using the IFRS XBRL taxonomy. Ez-XBRL also announced the availability of Inline XBRL and support for the IFRS taxonomy in its market-leading XBRL Online Review (XOR) product

“Following the SEC announcement in March supporting the IFRS XBRL taxonomy, Ez-XBRL is pleased to announce that it is fully equipped to provide services and products that will enable foreign registrants to meet the SEC’s compliance requirements,” said Aneet Kumar, President, Ez-XBRL Solutions. “With the availability of Inline XBRL capabilities in our products, Ez-XBRL will be able to meet the new standards for structured data that enables SEC registrants to streamline their processes by providing XBRL data in a single document to enable more accurate and better quality data to be filed,” she said.

In March, 2017, the SEC published the IFRS 2016 XBRL taxonomy to enable foreign private issuers to that prepare their financial statements in accordance with IFRS to submit those reports using XBRL. Foreign filers may begin submitting their filings now and must comply with XBRL submission requirements for all financial statements with fiscal period ending on or after December 15, 2017. Ez-XBRL will shortly be announcing a series of webinars to educate registrants that use IFRS to fully understand the SEC’s XBRL requirements. The company has been providing services for IFRS-based XBRL filings in the UK for HMRC corporation tax filings since 2010.

XOR, the company’s cloud-based platform that allows collaborative reviews of XBRL and Inline XBRL documents prior to filing with the SEC now supports all available SEC XBRL taxonomies including US GAAP, IFRS, and the Risk Return taxonomy for mutual funds. With support for Inline XBRL, users now have the ability to collaboratively review XBRL documents in both the rendered format as well as Inline XBRL format.