XBRL Submissions to the U.S. Securities and Exchange Commission (U.S. SEC)

cundus offers consulting services, training, coaching and enablement or full service turn-key solution to create XBRL formatted financial statements ready for submission to the US Securities Exchange Commission (SEC). Improve your XBRL reporting process, improve data quality and consistency by leveraging our in-house XBRL subject matter experts who have managed hundreds of successful filings with the SEC, and will share their unmatched knowledge of the XBRL process to ensure that your filing is successful.

Our Services

XBRL Services Implementation of SAP Business Objects Disclosure Management for SEC reporting requirements through:

Support with mapping and taxonomies

Review and guidance on new taxonomy element selection/conversion for your company's extension taxonomy to ensure conformance to mapping best practices.
Assistance with Quarterly to Annual Report mapping and taxonomy build conversion or any other edits to extension taxonomy files in current filing necessary.

Interactive data review

Full technical validations of current filing through SEC test filings until error free results are achieved with summary report of findings to ensure conformance with SEC EFM (Edgar Filing Manual) Rules.
Ongoing technical analysis and review of XBRL documents during filing up until submission.
Unlimited Third Party independent technical validations through with deliverance of summary report of validation results as well as recommendations if necessary.
Quality assurance review of last and current XBRL filing with a report of findings.

Training and help desk

Continuing XBRL Education and Best Practices.
Onsite XBRL product training to new or existing staff.
A dedicated on call XBRL Enablement Help Desk and Competence Centre hotline ensuring that you have access our XBRL competency center when needed.

Your Benefits

We enable our customers to create interactive data (XBRL files) by themselves based on SAP BusinessObjects Disclosure Management. An in-house integrated solution can benefit your XBRL and overall reporting process and improve data quality, consistency and cost.

No 3^rd Party Dependence

Control of the process and workflow
No time lost to the overall close process due to 3rd party turnaround time and timing demands (Average 3-4 days)
Risk of errors with handoffs eliminated
Outsource providers will have difficulty servicing clients with increased demand as we move into phase three filers

Decrease Time and Cost

Efficiencies in the overall reporting process can be created with bringing XBRL in-house
Costs may become prohibitive with detail tagging if outsourced
No perpetual cost for filing - (cost going up after year 2 filing with outsourcing)

Increase Knowledge

XBRL knowledge base in-house
XBRL report is interdependent on a company’s financial reporting system which requires company specific accounting knowledge not available to third party

Decrease Overall Risk

No difficulty in dealing with last minute changes leads to decreased risk of late filing
Enhance a company’s compliance efforts
Decreased threat to security and confidentiality

cundus 4 Step XBRL Reporting Process

cundus 4 Step integrated XBRL enablement approach to achieve a SEC EFM compliant XBRL instance document within SAP Business Objects Disclosure Management:

Step one: Mapping the financial statements and note disclosures using the latest XBRL SEC approved taxonomy and building an SEC compliant extension taxonomy based on the mapping document.
Step two: Associating the selected elements with values from the company financial statements and note disclosures through integrated tagging.
Step three: Generating and validating the XBRL instance documents against the latest EFM specifications for accuracy, consistency and completeness. Review rendering and underlying content for completeness, accuracy and consistency.
Step four: Submitting the XBRL exhibits along with the HTML documents to the SEC for filing.