cundus XBRL/iXBRL Consulting Competence

New Challenges in Financial Reporting with XBRL/iXBRL

In 2011, financial reporting to the main German and foreign regulatory bodies will change significantly. The following regulators have endorsed and now insist on transmission of financial data in XBRL/iXBRL (eXtensible Business Reporting Language) for external reporting purposes:

In the UK, HM Revenue & Customs (HMRC)
US Securities and Exchange Commission (SEC)
Bank Reporting
Sovency II Reporting for insurance undertakings

For companies, this means a change in the task profile:

1. Determination and provision of the relevant data which can involve functional and technical adjustments to the charts of accounts.

2. Transmission of the financial data in the XBRL/iXBRL format in accordance with the requirements (taxonomies) of the regulators in each case.

Tax Reporting to HMRC

Foreign subsidiaries reporting to the local tax authorities with the HMRC as an example.

Annual Reports to the US SEC

Mandatory reporting to the US SEC (Interactive Data) on the basis of the US GAAP or IFRS (FPIs) taxonomies.

Bank Reporting

Timesaving improvement of your external reporting for FinRep, CoRep and Risk Reporting.

Solvency II Reporting

Assembling a business-wide reporting-plan for more efficiency on reporting for insurance undertakings.

cundus as a Competent Partner

As experts in the field of Financial Performance Management and Disclosure Management, we quickly embraced the challenge of XBRL/iXBRL and now offer our customers a holistic consulting approach based on our vast experience. For this purpose, we have developed three different consulting models in order to better respond to specific customer requirements.

Security Through Competence! Reap the Benefits of Working with the Experts in Corporate/Financial Performance Management:

Extensive range of consulting services in the field of XBRL/iXBRL projects.
Profound technical expertise in the XBRL/iXBRL area.
Powerful product portfolio to collect and report company-wide financial data.
Many years of experience in the creation of individual and consolidated financial statements.
Comprehensive knowledge of national and international accounting.
Holistic consulting approach guarantees complete and successful consulting from a single source.