VERMEG OFFERS XBRL SERVICE FREE OF CHARGE DURING COVID-19 CRISIS
As the UK lockdown continues as a result of the continuing COVID-19 situation, VERMEG is offering services free of charge to assist the financial community in this time of crisis.
The first of these offerings is our XBRL Checker. The solution allows firms to upload XBRL output produced for the purposes of COREP, FINREP and PRA reporting and render this data in the original format of the respective template – allowing both validation of the XBRL structure and scrutiny of the data contained in the file. Users can also enter any error codes returned by the regulator to receive full descriptive details of these.
The XBRL Checker VISUALISER
Accepts files produced by any vendor or inhouse solution to allow inspection of User-Unfriendly data in XBRL files.
Convert raw XBRL, in real-time, back into a regulatory return template format for a visual check.
- Upload XBRL file
- View data in the relevant reporting template
- View errors that break the XBRL taxonomy definition e.g. duplicate facts
- Validate that the XBRL file is an accurate representation of your data
The XBRL-Checker VALIDATOR
Provides crucial explanation of validation failure codes (error messages) that may be returned after submitting an XBRL file to the relevant competent authority:
- Enter the error code from the regulator
- Select the taxonomy
- Receive a comprehensive report: error code, validation scope and formula, return code and name
- Receive an Excel spreadsheet highlighting the validation failures
This service will be offered free of charge until the end of July – at which time we will review the situation in the hope that lives will be returning to normal.
Please contact ukaccountmanagers@vermeg.com for more details and to discuss how to register for the XBRL Checker.
Look out for a further announcement next week regarding additional measures that VERMEG will put in place to assist the financial community.
ANDREW KESBEY
GLOBAL HEAD OF REGULATORY PRODUCT