We perform XBRL tagging which is cadent
with the latest IFRS taxonomy guidelines
Our team of consultants is here to assist
each client’s individual needs
LISTED & UNLISTED COMPANIES
We provide products and services for both
listed and unlisted companies
PRIVATE & PUBLIC
We provide products and services to both
the public and private sector
THINKING FOR THE FUTURE because we
believe that the future is imminent
We perform taxonomy extensions for regulators
We aim to service customers in both the public sector and private sector by providing them with the platform to make their XBRL filings and submissions without any hassles.
Our versatile and dedicated team of experts possess a leveraged experience of more than 30 years spanning the domains of software development, data warehousing, solutions architecture and accounting. The team has implemented a multitude of solutions in the banking, manufacturing and supply chain, and higher finance sectors both locally and globally. This has presented the team with the combined background to tackle challenges of varying complexity and magnitude.
In addition to the experience that culminates our executive team, Lofty Brainchild has also partnered up with an international accounting software provider, Amana Consulting GMBH, which has implemented XBRL reporting at a globally acclaimed financial services provider which is listed on the NYSE.
“The Companies and Intellectual Property Commission (CIPC) has requested that Annual Returns and their accompanying financial statements be submitted in XBRL format. This is a shift away from the previously manually analysed PDF format, which formed a part of the previous requisite format for Annual Return submissions.
The XBRL reporting format is currently being adopted internationally and is fast becoming the corner stone of Annual Return digitization. It is revolutionizing the manner in which company financial data is stored with regulators and is simplifying the analysis of such data.”
XBRL has the following benefits for submitting organisations and receiving organisations:
- Business Reporting capabilities are enhanced within an organisation and also for external organisations
- Regulating bodies such as the South African Reserve Bank (SARB), South African Revenue Service (SARS), Government, the CIPC, and various others are immediately enabled to exchange usable information with companies
- Automation of Data Collection is made possible removing the risk of error associated with manual intervention
- XBRL IFRS taxonomies standardize the naming convention of financial concepts making company financials universally interpretable
- Transparency is promoted through XBRL hence improving the efficiency of capital markets
As Lofty Brainchild, we provide you with the following services:
- XBRL Tagging
- XBRL Taxonomy Extensions
- XBRL Annual Returns Submissions
- XBRL SENS Submissions