Assistance submitting financial statements in iXBRL format

Financial statements in iXBRL format

Comprehensive methodological and technical assistance to companies that must submit financial statements in electronic format – iXBRL.

Comprehensive assistance to companies that have to submit financial statements in iXBRL.

Essential Services

This service comprises comprehensive methodological and technical assistance for companies preparing financial statements (including consolidated ones) that use IFRS taxonomy and therefore must submit statements in iXBRL format.

 

Details

  • KPMG provides advice classifying IFRS financial statement lines and analytical accounts in accordance with the requirements of UA XBRL IFRS Taxonomy. This involves analysing your company’s current chart of accounts and IFRS financial statement lines, as well as assistance in developing a new system of classification and comparison along the lines of UA XBRL IFRS Taxonomy, all taking into account the industry specifics of your company and unifying the format of its financial statements.
  • We offer technical assistance for converting IFRS financial statements, prepared in accordance with the requirements of UA XBRL IFRS Taxonomy, into iXBRL format.
  • KPMG also offers technical assistance for validating IFRS financial statements, prepared in accordance with the requirements of UA XBRL IFRS Taxonomy, with reference to your company’s specific activities and the Financial Reporting System.
  • We can also assist in developing terms of reference for automating the process of uploading data from accounting systems for further conversion to XBRL format.

Benefits and Opportunities

  • Your company gets high-quality professional assistance when converting IFRS financial statements in accordance with the requirements of UA XBRL IFRS Taxonomy.
  • Your company will be able to prepare its IFRS financial statements in a single universal format and to submit them in electronic form in accordance with statutory requirements.
  • KPMG will help your company develop the best possible classification system, according to the requirements of UA XBRL IFRS Taxonomy. This minimises the need for resubmitting financial statements for the previous year.
  • Your company saves money from its own budget for converting IFRS financial statements into iXBRL format and validating such financial statements.
  • With the help of KPMG specialists, your company will be able to adopt professional practices to arrange independent preparation of its interim and annual financial statements in the future, all in accordance with the requirements of UA XBRL IFRS Taxonomy.

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