iXBRL and XBRL
The quality of your filing is more important than ever.
Best in class iXBRL and XBRL support tailored to your needs
XBRL®, short for Extensible Business Reporting Language, enables the standardisation of data for key stakeholders and investors. The quality of your data is critical, as is selecting the right service provider.
Proven leaders in XBRL support
The Workiva team provides global XBRL and Inline XBRL® consulting and tagging services. Expertise and support is available for submissions to regulators, including SEC in the United States (supporting US GAAP and IFRS Taxonomies), HMRC in the United Kingdom and CIPC in South Africa. Workiva is also able to meet the forthcoming ESMA requirement for ESEF reporting in 2020.
Multiple support options available
Our experienced team is with you every step of the way, with three support options to choose from:
- Full service: Your dedicated manager will tag and review your document
- Support as you need it: Pick and choose what areas of your filing need assistance
- DIY: Tag XBRL yourself, but support is available if needed
XBRL®, iXBRL®, Inline XBRL® and Extensible Business Reporting Language® are trademarks of XBRL International, Inc. All rights reserved. The XBRL® standards are open and freely licensed by way of the XBRL International License Agreement.
An integrated approach to XBRL and iXBRL filings
Streamline your tagging, and reduce the risk of errors by bringing people, data, and processes together.
XBRL best practices
Whether completing XBRL tagging in-house or outsourcing, the most successful filers take an integrated approach, using the following guidelines:
- Leverage a single system to manage the entire financial process from close to tagging
- Simultaneously review the EDGAR document, disclosure tags and fact properties
- Work with a team of dedicated XBRL experts, as no one knows your financial reports better than you do
Data quality is a significant issue for XBRL
Workiva maintains a large ongoing investment in XBRL mapping and tagging technologies. The platform incorporates an additional level of validation checks that look at the meaning of the tags used from a business and accounting perspective to help you identify errors.
Complete your filings early and accurately
Manage change, revisions, and validations across internal and external teams without losing time.
Collaborative processes with transparency
With Workiva, you can manage updates, changes and commentary. Simplify certifications and sign-off processes. Assign and respond to tasks in your data and reports. Roll documents forward to ensure XBRL and iXBRL tags are consistent with those filed in previous periods.
Have confidence in your data
Built-in controls ensure peace of mind. The platform allows you to monitor and restrict permissions by role or open documents for simultaneous collaboration by large teams. Leverage version control and blackline comparisons to document revisions. Employ a full history and audit trail of changes.
Rely on the experts
The Workiva team has extensive background in global regulatory requirements and taxonomies.
Our thought leadership team consists of some of the best-known XBRL and accounting experts in the world, including the Former Chairman of the Financial Accounting Standards Board, Former SEC Deputy Chief Accountant for Policy and the current XBRL International Best Practices Board member and Task Force Chair.
Workiva offers an extensive library of content, ongoing training and events to help you continue to expand your knowledge base. Learning opportunities include:
We're not having all these versions of one document out there not knowing who did what. That's been one of the game changers.
The support that the Workiva team has always provided has been top-notch.
When you're logging into a system like Workiva, it definitely makes you feel better about your work.
During COVID-19, the corporate finance teams are working from home and the Workiva platform allows us to continue the processes we use the system for rather seamlessly.
For anyone considering Workiva, I’d definitely say 'Go for it'.