Tag: Extensible Business Reporting Language (iXBRL)
Contravention of Section 33 of the Companies Act by public companies
Filing of Financial Accountability Supplements instead of Audited Annual Financial Statements during the period 01 April 2020 to 31 March 2021. On 01 July 2018, we mandated Extensible Business Reporting Language, which is a digital financial reporting mechanism for companies to file audited annual financial statements (AFSs) in an electronic format.
iXBRL| mandatory for qualifying entities from 1 July 2018
It is all systems go for a new digital financial reporting system for CIPC, iXBRL, planned for roll out on 01 July 2018. This new annual financial statement reporting system is linked to a bigger project of standardising business reporting across the country, where entities can ‘report once and reports shared more than once’ with other regulators.
