XBRL solutions

EBA ITS

 

Since 2013 banks and investment firms have to prepare and send their reports to EBA (European Banking Authority) in XBRL according to the EU regulation 680/2014 (ITS). Previously in Hungary this XBRL file was prepared by the MNB on the basis of excel files but from 2020 onwards it must be prepared directly by the supervised institutions.

 

Our company offers its customers two possible solutions for the XBRL conversion and validation of the reports required in the EBA ITS.

 

We recommend both the RG module of our Creditron system and the Atome: Particles reporting system of our partner, the Polish company BR-AG.

 

Creditron offers higher value-added but is a more expensive system, Atome: Particles is an entry-level, therefore cheaper one. If the customer also wants to reduce the amount of human labor involved in reporting we recommend the Creditron RG module, if only strives for compliance we recommend purchasing Atome: Particles.

 

Details about Creditron RG module

Details about Atome: Particles

 

 

Solvency II

 

 

EIOPA (European Insurance and Occupational Pensions Authority) have been requested Solvency II reports in XBRL from insurers since 2016.

 

For the preparation of Solvency II reports in XBRL we recommend the Atome: Particles reporting system of our partner, the Polish company BR-AG.

 

 

ESEF

 

 

From 2021 onwards, consolidated annual reports of European listed issuers have to publish their annual consolidated IFRS reports in XHTML, including main figures in inline XBRL (so the first annual report to be published is the one of year 2020) in the file. The combined XHTML file allows you to view a report generated in XBRL using a browser.

 

The European Single European Format (ESEF) defined by ESMA (European Securities and Markets Authority) is an IFRS-based reporting XBRL taxonomy that can be supplemented with company-specific data by extending it. Thus to start reporting according to the ESEF a data modelling tool is required on one hand, and an iXBRL converter and validator on the other hand for continuous reporting. We are currently helping clients prepare with training and consulting.