We are proud and happy to share impressions of Kraš, one of our 20+ XBRL Point clients who gave us their trust and decided to go with our XBRL solution in order to comply with the new regulation of financial reporting in ESEF format.
We have chosen Poslovna inteligencija to be our business and technology partner on our way to ESEF compliance and adjustment of our financial statements to the new XBRL format. We are in the process of implementing XBRL Point solution right now, and we are really looking forward to transferring the knowledge of Poslovna inteligencija’s consultants to our employees, in order for our employees to operate XBRL Point independently and to generate reports themselves in the future.
Earlier this year, Poslovna inteligencija has entered the ESEF compliance and XBRL tagging market with its own solution.
From 1 January 2022, all stock exchange listed companies in Croatia will be required to prepare their annual financial reports in a single electronic reporting format (ESEF). The obligation is prescribed by regulatory technical requirements prepared by the European Securities and Capital Markets Authority and adopted by the European Commission.
This obligation involves marking financial statements with the appropriate XBRL tags using Inline XBRL technology. The purpose of applying these International Financial Reporting Standards is to ensure a high level of transparency and comparability of the financial statements.
We have been in contact with many clients who are obliged to start reporting in ESEF format, so we came up with the idea to develop our own solution that will support conversion from standard format to tagging financial reports and creating reports in ESEF format. We advise to all the users to take into account that our solution allows them to load their existing reports and that they can mark and tag the positions of their existing financial statements. We keep emphasizing that XBRL Point solution is very intuitive and most of tagging can be done automatically. The software also enables validation before users send their reports to HANFA, which means that users can check for warnings or errors within the tagging system, and this significantly shortens the process of reporting. We had all this in mind when creating our solution – XBRL Point. The result is that in just a few clicks, you can have your report ready.
Sladjana Krpic, Poslovna inteligencija
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