FRSGlobal and Semansys Delivers Standardised XBRL Reporting
FRSGlobal, a regulatory reporting and risk management solutions company, has partnered with Semansys Technologies to deliver standardised eXtensible Business Reporting Language (XBRL) reporting.
Increasingly, regulators are demanding that reports should be submitted in XBRL, such as: the Central Bank and Financial Services Authority of Ireland (CBFSAI) for statistical reporting; the Estados Públicos (public reports) overseen by the Banco de España; and the upcoming SURFI regulations driven by the Commission Bancaire in France. With this partnership, XBRL will be included as standard within FRSGlobal’s regulatory reporting tool, RegPro.
Walter Wartenweiler, vice president of technology, FRSGlobal, said: “As an innovative language for the electronic communication of business and financial data, XBRL is revolutionising reporting around the world. This partnership with leading XBRL software vendor Semansys Technologies will enable us to move from a regulator-specific methodology to delivering a more proactive, homogeneous approach for our clients.”