cqs xbrl presentation
DESCRIPTION
CQS readiness for XBRLTRANSCRIPT
Business integrity, insight
and beyond
Business integrity, insight
and beyond
Business integrity, insight
and beyond
CaseWare background
• Developed in Canada
• Global leaders in financial reporting
• Audit, Corporate and Government Markets
• Used in 130 countries worldwide
• CaseWare International was a founding member of XBRL globally and a member of the XBRL consortium
• Involved Globally
– United Kingdom, USA, Australia, Belgium, The Netherlands
Business integrity, insight
and beyond
Private Customers
Business integrity, insight
and beyond
Public Customers
Business integrity, insight
and beyond
What is CaseWare?
• Integrated Solution
• IFRS and GRAP Financial statements – various templates
• Consolidation
• Management Reporting
• ITR14 Tax Computation
• XBRL and iXBRL Reporting
• Fully compliant with disclosure requirements - updates
• Intelligently applies IFRS
• Built in validation
• Drill down functionality
Business integrity, insight
and beyond
Business integrity, insight
and beyond
How CaseWare works
1. Import
2. Mapping
3. Output*IFRS Financials
*Consolidation
*Management Reports
*ITR14 Tax Computation
*XBRL and iXBRL Reports
Business integrity, insight
and beyond
What is XBRL?
• XBRL stands for eXtensible Business Reporting Language
• XBRL is a standardised language for the electronic communication of business and financial data.
• It provides major benefits in the preparation, analysis and communication of financial and business information.
• It offers cost savings, greater efficiency and improved accuracy and reliability.
• It is already being put to practical use in over 50 countries around the world.
• The change from paper, PDF and HTML based reports to XBRL ones is a little bit like the change from film photography to digital photography, or from paper maps to digital maps
Business integrity, insight
and beyond
CaseWare can generate 2 types of
XBRL output
CaseWare Annual Financial Statements
XBRL Instance Document
iXBRL /Inline XBRL
Not for humans
Has no layout
Includes layout - HTML
Human & machine
readable
Business integrity, insight
and beyond
Instance Document
Business integrity, insight
and beyond
I-XBRL (In-line XBRL)
Business integrity, insight
and beyond
Benefits of XBRL with CaseWare
• Efficiency Full set and time saving
• Consistency & Control Data Accuracy and automation
• Compliance IFRS Disclosure
• Consolidation Multiple entities & Robust
• Electronic Audit File Paperless and cross referencing
Business integrity, insight
and beyond
• Process of assigning an agreed-upon XBRL definition from the taxonomy (dictionary) to an item/element within a financial report.
• Our templates are pre-tagged, giving users time to focus on reviewing and not worry about the technical aspects.
• Only industry or company specific changes need to be retagged – a few minutes
• Sophisticated tagging engine allowing for single or multiple taxonomies
• Any CaseWare financial statement content can be tagged
Tagging
Business integrity, insight
and beyond
Validating or Auditing the output
• A wide array of built-in diagnostic tools
– Powerful tests to ensure your data's accuracy and
integrity
• Inline XBRL providing browser-friendly readable formats
– Compare to actual financial statements
• Reimport XBRL instance document
– Compare through lead sheets and Financials
Business integrity, insight
and beyond
Cases of Major XBRL Implementation
• The Netherlands - considered one of the earliest major XBRL implementations to
facilitate standardized business reporting for companies in all industries including
government.
• Australia - aimed to reduce the business reporting burden. Its scope extended
across multiple government agencies and promised to reduce the reporting burden
for more than 2 million businesses.
• United StateslFederal Deposit Insurance Corporation (FDIC) - considered the
first large-scale use of XBRL for reporting bank information.
• Spain. The Bank of Spain’s XBRL project is considered the first large-scale
implementation of international financial data standards.
• Singapore. Singapore’s XBRL project is one of the first implementations in Asia
that covers all industries.
• United StateslSecurities and Exchange Commission (SEC) - covers more than
12,000 businesses in the United States and around the globe. The effort is driven
by the objective of providing financial transparency to investors.
Business integrity, insight
and beyond
eXtensible Business Reporting
Language
XBRL
It’s Actually Easy !
Business integrity, insight
and beyond
v
Thank You
Contact details
www.cqs.co.za