Reforming Reporting in South Africa – A Case Study
With jurisdictions right around the world looking to enhance disclosure, more and more are now shifting to Inline XBRL, allowing human and machine-readable reports to greatly enhance reporting. At Data Amplified, we dive right in, with a case study on Reforming Reporting in South Africa, presented by Joey Mathekga of the Companies and Intellectual Property Commission (CIPC).
Ease of doing business should be on the up for companies in South Africa as from July 2018 the CIPC mandated Inline XBRL reporting for all entities required to submit Annual Financial Statements (AFS’s).
The CIPC aims to bring a new dimension of efficiency and effectiveness with their move to the XBRL standard. XBRL can automatically verify that business rules have been adhered to, increasing the regulatory effectiveness of the CIPC. They will also now build up a bank of consolidated data that will allow the CIPC to perform in-depth analysis to identify trends.
To hear how the CIPC implemented the transition from PDF to XBRL listen to Joey Mathekga presenting the CIPC case study, “Reforming Reporting in South Africa,” on day 2 of Data Amplified later this month.