CIPC Annual Report Hard Stop

In order to ensure compliance with this requirement, CIPC will shortly be introducing a “Hard Stop functionality” that prevents companies from completing the AR submission unless they have filed a valid set of AFSs or FASs.

Why XBRL?

Why XBRL? XBRL is an open international standard for digital reporting that enables regulators to manage the financial data they receive by leveraging machines to read them.

Three things you need to know about the 1st of July 2018 CIPC mandate

South Africa has recently moved from a paper based to an automatic reporting system beginning 1st July 2018, with the implementation of Inline XBRL (iXBRL). The Companies and Intellectual Property Commission (CIPC), South Africa’s business registry, is implementing iXBRL as the stepping stone to move towards smart data and to future-proof the way compliance reporting and data works. …

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Which software is used most for iXBRL filings of South African companies to CIPC?

50% of the companies participating in the CIPC pilot picked IRIS CARBON® for their filings with CIPC. Indeed IRIS CARBON® has emerged as the overwhelmingly preferred software to generate filings of companies in the XBRL pilot programme of CIPC in South Africa. Data released on May 16 by the Companies and Intellectual Property Commission (CIPC) of South …

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South Africa to mandate Inline XBRL from July 1, 2018

Companies and Intellectual Property Commission (CIPC), South Africa has recently announced that all companies that currently submit their Annual Financial Statements (AFS) need to report their financial information in iXBRL (Inline XBRL). Who are covered under this mandate? All companies currently required to submit AFSs according to the Companies Act in PDF format will be required to submit in iXBRL. When …

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