Ready for digital reporting of the annual report (XBRL)?
The digital reporting of the annual report will for most companies require an adjustment of the set-up in order to comply with new digital reporting requirements made by the Danish Commerce Agency “Erhvervsstyrelsen”.
As from 30 June 2012, it has been a legal requirement that all accounting class B-companies report their annual report digitally (financial year-end by 31 January 2012 or later). Companies in accounting class C and D will be subject to the below requirements:
Accounting class C: Must report annual reports digitally for annual reports with balance date after 31 December 2012
Accounting class D: Must report annual reports digitally for annual reports with balance date after 31 December 2013
The digital reporting of the annual report is to take place via a web-based entering solution, which the Danish Commerce Agency “Erhvervsstyrelsen” provides, or through special XBRL software, in case the web-based solution does not contain the elements required by the company. Mazars offer our customers to handle the digital reporting of the annual report via the same system and tools, which we use in connection with our audit of the financial statements and our assistance with the presentation of the annual report.
The digital reporting of the annual report for most of the companies requires an adjustment of the set-up of the annual report model in order to comply with the digital reporting requirements, including the so-called "XBRL-taxonomy”, which must be kept, so that the required adjustments made by the Danish Commerce Agency “Erhvervsstyrelsen” are met.
By letting Mazars in charge of the digital reporting of the annual report, this could be done quickly, efficiently and with minimal risk of error. Furthermore, we can offer general consultancy about XBRL and the process of XBRL reporting.
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