XBRL Auditor is an auditing software for iXBRL reports, according to the European Single Electronic Format (ESEF Regulation).
The newly adopted ESEF standard for the presentation of financial statements poses an obligation on listed companies to publish their annual consolidated financial statements in iXBRL format. In many European countries, financial statements in ESEF format must be reviewed or audited before presentation.
The main challenge of auditing iXBRL reports is their technical validation, which consists of checking the tags selected by the report creator, and comparison of the traditional PDF format (PDF) with the new iXBRL format. Auditing of iXBRL reports is only possible with an appropriate certified XBRL tool.
XBRL Auditor supports:
The software works with all iXBRL reports, regardless of the tool used for their compilation. The machine-readable dataset is immediately validated and visualized and can be compared to the “human-readable” XHTML format.
The compliance check of the report is performed and confirmed with a single click, without any specific technical knowledge.
XBRL Auditor allows auditors to focus on the essentials: checking the actual XBRL tags and line items in the reports, taxonomy extensions and calculation base.
The tagging of the main financial statements can be checked or commented on a line-by-line basis from one version to the other.
The integrated checklist allows a complete audit to be performed, commented and documented by multiple users at the same time.
An automatic detection of changes for new versions of the ESEF report, as well as the comparison of XHTML and iXBRL, allows to quickly compare the changed reports, without having to repeat already checked items.
XBRL Auditor is part of LucaNet's portfolio.
Balkan Services is an official partner LucaNet Group.
Request a free demo of the software by contacting us here.
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