CoreFiling is the first company worldwide to achieve the status of official Certified XBRL Software for its True North Data Platform applications, with the greatest number of products in the certified list.
Oxford-based CoreFiling is a leading global provider of XBRL reporting software, which underpins national and international financial and regulatory reporting and is used by the UK government’s FCA and HMRC as well as insurance companies, central banks, enterprises and other regulators.
Internationally its products are trusted by the world’s NCAs (national competent authorities), regulators, filers and enterprises.
XBRL is a sophisticated international open standard for digital business reporting, including financial statements for regulatory authorities, many of whom now require reports to be in the XBRL format.
CoreFiling is a significant player in the progress of XBRL, with most of the world’s heavily used taxonomies developed using CoreFiling tools.
It has now become one of three providers worldwide to be awarded certification for both creation and consumption software to achieve the inaugural Certified XBRL Software status.
CoreFiling chairman Philip Allen said: “Conformance with the XBRL standard across different fields of reporting is absolutely vital for companies issuing digital reports and for regulatory authorities receiving those reports.
“True North Data Platform is already widely regarded as the most reliable XBRL reporting, validation and processing engine on the market and its new Certified XBRL Software status is a powerful, additional assurance that True North has been robustly, independently tested – and will be tested annually – for the highest conformance with the XBRL specifications.”
The Certified XBRL Software status is issued by XBRL International, the global not-for-profit consortium that oversees the XBRL standard and is supported by more than 600 private and public sector member organisations.
Certified XBRL Software is tested by XBRL International against thousands of conformance suite tests that objectively prove the interoperability of software that produces or consumes XBRL-tagged information.
This is the first time Certified XBRL Software status has been awarded to any providers.
Allen continued: “True North Data Platform’s Certified XBRL Software status has the impeccable credential of having been awarded by XBRL International itself, so companies and government agencies that are considering the adoption of True North Data Platform have absolute assurance on the matter of compliance and can make their choices based on True North Data Platform’s comprehensiveness, reliability and ease of use.”