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Thе Companies and Intellectual Property Commission (CIPC) hаѕ mаndаtеd submission оf Annuаl Financial Stаtеmеntѕ (AFS) in the iXBRL format fоr аll qualifying еntіtіеѕ frоm 1 Julу 2018. Thіѕ article аіmѕ tо explain the concepts, rеquіrеmеntѕ аnd рrосеѕѕ to follow іn оrdеr tо соmрlу wіth thе CIPCs mandate of Digital Financial Reporting. Financial reporting in […]
Regulators in South Africa and other parts of the world still collect Annual Financial Statements (AFS) in PDF and paper formats. However, there is increasing need for adapting to an international standard of accurate, efficient and fast digital business information exchange, like XBRL (eXtensible Business Report Language). XBRL is a non-profit voluntary program that aims […]
DataTracks, the global leader in disclosure management and regulatory compliance software and services, today announced that they have been selected as the iXBRL solution provider of choice by Brandesign Group (Pty) Ltd., a leading branding and investor communications agency in South Africa. DataTracks’s Disclosure Management Solution (DMS) is currently used by listed companies to file […]
Different regulatory bodies across the world have passed regulations for publicly traded corporations in recent times. Over the past year, many organisations and regulatory agencies have put forth new rules that govern how and when organisations must report their annual and quarterly financial statements. One of the most significant changes that organisations will have to […]
The Companies and Intellectual Property Commission (CIPC) embraces international best practices and the іmрасt of the use of iXBRL when submitting Annual Financial Statements (AFS) online and in improving efficiency. iXBRL will simplify reporting financial information electronically for companies. The CIPC is mandating the digital reporting standard for all qualifying entities from 1 July 2018. […]