CoreFiling’s
Touchstone document review tool supports
the
XBRL Consistency Suite for full quality checking of SEC filings
Oxford,
6th April 2010. CoreFiling,
the leading supplier of XBRL (eXtensible Business Reporting Language) tools to
filers, regulators and government agencies, has announced support for the new
XBRL Consistency Suite, launched today by XBRL US, the XML standard setter for
business information reporting in the U.S.
The
XBRL Consistency Suite includes Consistency Checks, a set of 6,000 tests, which
companies can run against their financial statements to identify issues related
to the use of the XBRL US GAAP Taxonomy before filing with the SEC. The checks can now be accessed through
CoreFiling's Touchstone document review tool.
Subscribers to the XBRL Consistency Suite can test their SEC filings
against the EDGAR Filer Manual rules, the XBRL 2.1 specification (including
XBRL Dimensions), and Touchstone's own integral
"best practice" Quality Checks, as well as the newly released
Consistency Checks.
The
XBRL Consistency Suite is designed to highlight potential inconsistencies with
the XBRL US GAAP taxonomy, addressing issues of data consistency and quality
which fall outside the scope of the business rules described in the EDGAR Filer
Manual. The Consistency Checks
incorporate a large number of custom checks to ensure that the facts presented
are fully meaningful within the context in which they appear. Touchstone will flag anomalies when, for
example, monetary values wrongly appear as negative or annual amounts fail to
agree with cumulative quarterly figures.
Touchstone
now provides report preparers with a single view of the full range of
“pre-flight” checks. Touchstone
highlights problematic facts directly in the XBRL document, rather than just
providing a static validation report.
CoreFiling’s
CEO, John Turner, commented: “Touchstone
is the first tool to incorporate the XBRL Consistency Suite as an integral part
of its document review process, which makes it ideal for SEC filers concerned
about the quality of their XBRL filings.”
CoreFiling
is an official reseller for the XBRL Consistency Suite.
About
CoreFiling
Regulators,
government agencies and corporations around the world rely on CoreFiling for
XBRL based performance reporting solutions. Headquartered in Oxford in the UK,
the company operates globally.
Contact
Andrea
Whitehouse info@corefiling.com or
+44 1865 203 192
See http://www.corefiling.com for
more details.