XBRL Reporting to Local Authorities

More and more countries are making it mandatory for companies to file annual financial and tax reports in the XBRL format based on the IFRS standards. Each authority has made their own XBRL taxonomy, which complicates things a little, but the generic ParsePort XBRL solution works with all XBRL taxonomies.

Converting to XBRL using the GAAP/IFRS standards

There are multiple ways to convert your financial statement into XBRL and there are just as many ways to file it to your local authorities. The filing is often accomplished by uploading the relevant files to a website, but you can also choose to transfer your files directly via the conversion software.

Using our XBRL engine you can convert your financial statement to XBRL in multiple ways. If you use Excel, you can add our simplified tags to your sheets, or add one of our pre-tagged templates. These tags will make sure that our system knows which data needs to be converted. Afterwards, you can upload your Excel file to our portal, or make use of our Excel Add-In to convert the file to XBRL.


Instead of using Excel, you can also connect directly to our XBRL engine via our API’s. This will allow you to continue using your preferred format be it JSON, CSV, XML or something else.

If you use a reporting generator to create your file, you contact us, and we will make a solution where we convert your output file directly to XBR, which ensures that your workflow stays as efficient as possible.

In case you don’t want to change anything in your current workflow, our XBRL Service Team can handle the entire conversion process for you.
All you need to do is send your annual reports to us as an Excel or Word document, and our XBRL Service Team will convert your report for you.

XBRL Reporting for Auditors

Some countries require that the reports are audited and verified by an accountant. In this case it is necessary to convert the XBRL back into Excel, HTML or PDF in order to read it. Luckily, this is fully possible with our XBRL Reader.

Because of this back conversion It becomes necessary to ensure that the XBRL file isn’t manipulated after the auditing process takes place. This is handled by adding a hash total, or a fingerprint to the file. If the file is changed even a little, the hash total will change, making it obvious that the file was changed.

Our XBRL Reader displays the hash total, so the auditor can confirm that the file is correctly audited and validated. Together with our partners, we are able to facilitate the entire process of auditing and digitally signing the XBRL files.