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Implement iXBRL and Open Doors to Great Business Opportunities

The iXBRL journey in South Africa has been a rewarding and widespread one. The standards laid down by the CIPC in terms of the iXBRL format benefit not only the South African government but also the issuers, which is why it is time to look beyond compliance and understand how the adoption of iXBRL is […]

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iXBRL Reporting Requirements with the CIPC for Companies Registered in South Africa

The CIPC – Companies and Intellectual Property Commission of South Africa launched their XBRL reporting program back in 2016 and advanced it further by introducing Inline eXtensible Business Reporting Language (iXBRL) in 2018 as the latest format for submitting Annual Financial Statements (AFSs) to the CIPC. The iXBRL taxonomy contains tags based on the requirements […]

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CIPC – iXBRL Mandate That You Should Know!

The South African government has taken the initiative to move from a paper-based reporting system to a structured data reporting system with iXBRL (Inline XBRL). Effective 1st July 2018, the CIPC has mandated companies to file their annual financial statements in a new format, i.e., iXBRL. This new format has replaced the traditional PDF format […]

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DataTracks iXBRL South Africa

Use iXBRL Outsourcing Services Intelligently and Refine Your Financial Reporting Processes.

With the pandemic disrupting the entire global economy, companies need to give some serious thought on how they plan to prepare and report their Annual Financial Statements (AFS) in the iXBRL format. Companies have two options when it comes to complying with the CIPCs mandate. The iXBRL reporting process should be either outsourced to a […]

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Filing with CIPC! AFS in iXBRL or FAS?

There has been a lot of discussion on the filing of annual returns with the CIPC since the inception of iXBRL. Companies often question whether they are liable to file iXBRL, AFS (Annual Financial Statements) or FAS (Financial Accountability Supplement)? On 1st July 2018, the CIPC (Companies and Intellectual Property Commission) announced that all qualifying […]

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Spending Too Many Hours on iXBRL Preparation? Not Anymore.

South Africa and several other countries are trying to recover from economic downfall post the COVID-19 pandemic. With every industry and sector working on minimum capacity, the entire global economy is trying hard to recuperate from this dire situation. Keeping this in mind, post the lockdown, businesses will need to cut down costs, rework on […]

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COVID-19 Lockdown: CIPC Issues Notice to Clarify the Ongoing Online Services

The President announced the extension of national lockdown till the end of April with the hope of surviving the pandemic and flattening the curve. Post this news, the governing agency of the Department of Trade and Industry in South Africa, CIPC, stepped forward to the aid of businesses within the country. In the face of […]

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CIPC – Tackling iXBRL Annual Returns Filing Challenges amid COVID 19 Lockdown

The entire world is fighting the invisible enemy, Coronavirus, and every single individual is taking due measures to stay safe and strong in the wake of this global pandemic. In South Africa, too, governmental agencies, businesses, & the people, are taking steps to cope with the COVID 19 as the stress of the crisis deepens […]

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Enhancement to The CIPC Checklist That You Must Know!

The CIPC has issued an upgrade with reference to its previous Notice 52 of 2019 for South African companies, which is to complete a compliance checklist online before submitting annual returns. Now, the CIPC has enhanced the compliance checklist by adding a new section to confirm if the companies’ annual financial statements are audited or […]

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How to Improve Efficiency and Reduce iXBRL Compliance Cost by 70%?

How to Improve Efficiency and Reduce iXBRL Compliance Cost by 70%? As of 1st July 2018, when the CIPC mandated the use of iXBRL for annual financial reporting from qualifying entities, the main concern has been about the costs and complexities related to the new filing system. The main objective behind this was to automate […]

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