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DataTracks Offers Free Services for Companies Participating in CIPC’s XBRL Pilot Programme

DataTracks announces complimentary iXBRL conversion services at no cost to companies that are participating in  South Africa CIPC’s (Companies and Intellectual Property Commission) XBRL pilot programme. This offer is limited to first 50 registrations on a first-come-first-serve basis. It is learnt that a select 100+ companies listed on the Johannesburg Stock Exchange (JSE) have been requested by the CIPC to join the pilot programme planned in February, 2018.

DataTracks is known for providing disruptive solutions at an affordable cost in the XBRL space wherever regulatory reporting in XBRL format is mandated.

CIPC will mandate all companies in South Africa to file their AFSs (Annual Financial Statements) in iXBRL format from 1st July 2018. As a scaling procedure, CIPC has initiated the test filing in the pilot phase starting in February 2018. CIPC welcomes other entities for voluntary participation in the pilot phase. It has urged companies to be prepared in advance by obtaining XBRL services or certified software provider.

“We are listed as one of the recommended SSP’s (Software Service Provider) by CIPC and ready with CIPC IFRS Taxonomy in our software. To aid the companies participating in the pilot prgramme, we are offering complimentary  iXBRL services for the first 50 registrations out of the current 100+ companies participating in the pilot phase test filing with CIPC.”, declares Pramodh Vittal, VP for Opportunities and Product Design at DataTracks. He further adds “The fact that our iXBRL creation software is certified by XBRL International reassures our customers on our commitment towards maintaining appropriate standards in regulatory reporting

DataTracks has a track record of 12+ years in the XBRL industry and is certified for ISO 9001:2015 for quality standards and ISO 27001:2013 for information security. With 400+ accounting experts specialised in various accounting standards including IFRS, DataTracks is geared up to cater iXBRL services in South Africa.

At the time of live filing requirement by CIPC, DataTracks plans to market its iXBRL software solution. For business related queries contact: +44-20-3608-8035, enquiry@datatracks.co.za

Disclaimer: The complimentary iXBRL service is limited to the first 50 registrations out of the 100+ companies selected by CIPC to participate in the XBRL pilot programme.

About DataTracks

DataTracks, known for its quality and cost-effectiveness, strives to provide cutting-edge Regulatory Reporting Technology across the globe. DataTracks is the preferred vendor for several accounting firms and thousands of corporations in the UK. DataTracks has processed more than 50,000 iXBRL files and is one of the recognised Software Service Provider (SSP) by CIPC in South Africa. DataTracks DMS software is certified by XBRL International for conformance with the XBRL specifications.

DataTracks facilitates organisations across the globe to conform to multiple regulations and has strong footprints in Europe, Asia, United States and South Africa, serving over 4,000+ clients with compliance reports to the HMRC in the UK, Revenue in Ireland, various EU regulators, SEC in the US, ACRA in Singapore, MCA in India and CIPC in South Africa.

 Media contact: T R Santhanakrishnan, media@datatracks.com, +44-20-3468-6382

Website: www.datatracks.co.za