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Optimise Submission of Audited Financial Statements

More than 120 countries, today, follow the International Financial Reporting Standards. Most of them use organised data with XBRL (Extensible Business Reporting Language) for their financial disclosures. iXBRL or Inline XBRL, an open standard. It allows a single document to provide structured human-readable and machine-readable data. In 2018, the Companies and Intellectual Property Commission (CIPC) […]

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Financial Market of South Africa – 2019

South Africa is a diverse and developed middle-income nation. It is the second-largest economy of Africa after Nigeria. However, it also experiences a high unemployment rate, income inequality and poverty. While a major chunk of South Africa’s trade and industry have grown steadily since the global recession in 2008, its services posted rapid growth. The […]

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How Company Returns and CIPC Returns Function?

  It is mandatory for all organizations and corporations by law to file their annual returns with CIPC within a specific time period every year. An annual return is a statutory return as per Companies and Close Corporations Act and it is essential for organizations to comply with it. Failing to do so will make […]

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3 ways to make your iXBRL CIPC submission easy

The CIPC, in July 2018, made it compulsory for all qualifying entities to file their Annual Financial Statements (AFSs) in the iXBRL reporting standard. Companies earlier used to submit their annual financial statements to CIPC in the PDF format. All qualifying entities will also have to file their yearly returns apart from filing their Annual […]

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XBRL – The Audit Consequences of XML in Financial Reporting

  XBRL (Extensible Business Reporting Language) is an open standard which is used for exchanging business details between systems.  The conversion of financial statement data into interactive fields enables quicker data analysis. What are the risks associated with XML Audit? Irrespective of whether the company opts for outsourcing the conversion or not, the firm whose […]

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When Do they Accept Late Submission without Penalty for ACRA?

All private limited companies which are based in Singapore need to be compliant with Accounting and Corporate Regulatory Authority (ACRA). Annual filings are essential for active as well as dormant Singapore companies. If you fail to meet ongoing compliance requirements in a timely manner, you may have to pay penalties. Here, we will discuss about […]

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Vital Changes Which You Need To Know About 2019 IFRS Update

With the start of the new year, a number of changes and amendments of IFRS has been made. In this article, we cover all major changes and amendments which have been made in 2019- The new standard IFRS 9 Financial Instrument applies in toto In case you have deferred implementation of IFRS 9 till now, […]

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The Significance of Malaysian Business Reporting System

In Malaysia, all firms (public as well as private) have to register themselves with Suruhanjaya Syarikat Malaysia (SSM), the Malaysian regulator. Its responsibility is to improve and promote the supply of business details and create a facility in which the public can analyze the required corporate information. Starting from November 2018, SSM has made it […]

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Role and Significance of Companies and Intellectual Property Commission

A few years ago, the Companies and Intellectual Property Registration Office (CIPRO) was replaced by Companies and Intellectual Property Commission (CIPC). Since this new act came into being, there has been a significant change in the way business owners register a company. The Act specifies that no registration of new close corporations can take place. […]

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What is XBRL Filing? Do I Need It?

XBRL is an abbreviation of Extensible Business Reporting Language. It is widely used for presenting data which ensures hassle-free analysis, thereby bringing down costs, time and effort of businesses. It ensures paperless reporting and is therefore gaining widespread acceptance across different parts of the world. Here are some of the major reasons why XBRL filing […]

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Recent Posts

  • 09 Apr
    Optimise Submission of Audited Financial Statements
    More than 120 countries, today, follow the International Financial Reporting Standards. Most of them use organised data with XBRL (Extensible Business Reporting Language) for their ...
  • 27 Mar
    Financial Market of South Africa – 2019
    South Africa is a diverse and developed middle-income nation. It is the second-largest economy of Africa after Nigeria. However, it also experiences a high unemployment rate, income ...