XBRL_pic_1.pngDriving Financial Compliance in the Digital Era

The Companies and Intellectual Property Commission (CIPC) embraces international best practices and the impact of the use of XBRL when submitting Annual Financial Statements (AFS) online and in improving efficiencies.  XBRL will make it easier for Companies to report their financial information in an electronic format.  CIPC mandated the digital reporting system for all qualifying entities from 1 July 2018.

XBRL is an eXtensible Business Reporting Language for electronic communication of business information providing major benefits in the preparation, analysis, communication of Annual Financial Statements.

Digital reporting in the format of XBRL will assist companies with filing their Annual Financial Statements to egress from a PDF reporting format to a more structured format. This will ultimately reduce the burden of multiple submissions to different regulators.

XBRL Programme Objectives are:

  • To reduce the administrative burden on businesses when they report financial information to government for regulatory compliance.  Achieving this goal requires reducing duplication and inconsistency in business information reported to various government agencies - thus, a national (local taxonomy becomes a necessity; and
  • To achieve regulatory compliance to accomplish the mission of the government agency.  The CIPC's primary mission is to provide business and financial information to investors for better transparency and to reduce the administrative costs of reporting businesses.

For more information, please refer to the links below or contact Mr Joey Mathekga - (Programme Owner) - e-mail jmathekga@cipc.co.za, or send a query to XBRL@cipc.co.za.

 

Details of the XBRL Programme

Filing Annual Financial Statements (AFSs) via XBRL

How-to guides:

 

Differences between filing of Annual Financial Statements (AFSs) and Financial Accountability Supplements (FASs)

 

Public Consultation on CIPCs 2018 Taxonomy Data Model

Please participate in the CIPCs process of public consultation of the 2018 taxonomy data model by reviewing the documents below:


Provisioning of Client-Side Software for Filing of AFSs via XBRL

For entities seeking service providers for XBRL client-side software solutions:

For prospective software service providers who want to join the CIPCs vendor panel:


Pilot Phase

Please note that the Pilot Phase concluded on 15 June 2018


Business Aspects

Information for entities on how to comply to the CIPCs XBRL mandate on filing of AFSs:


Technical Aspects

Technical information mostly relevant only to software service providers of client-side software:


General, Notices, Articles, News & Videos

General information on the CIPCs XBRL Programme: