Authority Software provide disclosure management software with XBRL and iXBRL capabilities for all corporations and specialised regulatory reporting software for banks and insurance companies. Authority Software provide regulatory reporting software for corporations, banks, and insurance companies. The Authority Suite by Authority Software is used by 100 companies across the EEA.
The suite (DPM Authority, Report Authority and XML Authority) facilitates:
- regulatory reporting software for insurance undertakings (Solvency II) and banks/investment firms (CRD IV (COREP/FINREP));
- Disclosure management software with XBRL and iXBRL capabilities; and
- XML reporting software (FATCA, AIFMD, CRS, SAF-T, country-by-country, MIFID II and many others)
In addition to Disclosure Management, Authority Software provides a number of capabilities, including:
DPM Authority provides a single tool to cover all DPM XBRL reporting requirements including EBA CRD IV (COREP/FINREP) reporting and contains a library of taxonomies that covers both European and National Reporting Requirements.
DPM Authority supports Pillar 3 regulatory compliance to a comprehensive range of Regulatory Authorities with extremely efficient taxonomy updates and direct connectors to both Oracle and OneStream systems. Report Authority provides narrative reporting functionality for preparation of the SFCR and RSR. Read more…
XML Authority covers AIFMD, FATCA, CRS, Country by Country, SAF-T, AnaCredit, MiFID II and many others where a published schema is made available.
by Authority Software
Report Authority is a very capable narrative reporting tool with integrated XBRL and iXBRL capabilities.
Having a Disclosure Management solution with rich features that also harmoniously incorporates iXBRL tagging allows you to run your annual financial reporting processes much more efficiently.
With Report Authority you can begin with a completed narrative report document, for example in MS Word, or you can use the tool to create the narrative report and complete the iXBRL tagging within the same process.
The software can be used to prepare both XBRL and iXBRL submissions, supporting all taxonomies such as ESMA’s ESEF, UK FRC with Irish extensions, Danish Business Authority and many others.
A set-up wizard will ask you for various details – information that often must be embedded in the XBRL but not necessarily also displayed on the face of the report, such as your reporting entity code, number scaling and precision.
Report Authority sports many other great features, such as integration with your financial systems, scaling and casting management, validations, built-in formulas and roll-forward capability.
The actual tagging process is very easy and intuitive. Users simply find the appropriate tag in the presentation linkbase and drag and drop it onto the content embedded in the report. Users can search in the presentation linkbase too and spare the effort of endlessly scrolling through the large taxonomy directory.
Report Authority also features an auto-tagger, which is ideal for large financial statements. Where auto tagging doesn’t identify an exact match, you can even ask it to offer suggestions.
You may be required to create taxonomy extensions for material and business-specific disclosures not already listed within the default taxonomy, which is easy to do. Users can create the concept with the appropriate label, and specify the anchoring, if necessary. The concept can then be applied to the document just like any other concept.
Validations need to be run on the document before finalising it. Report Authority sees the report data through the eyes of the taxonomy, so the validation results and messages will be consistent with those within the regulator’s portals. Blocking errors will need to be cleared before publishing the final document, which users can do by navigating to facts from the validation warnings directly. Often a simple sign-flip will resolve the issue, which is also an embedded feature in the document.
Exporting the final reports is quick and easy too. The outputs will conform with whatever type of report it is that you are producing. For example, under ESEF, the output will include both the report in xHTML format and the company’s extended taxonomy.
This plug-and-play, low-cost software brings plenty of efficiency to the last-mile of finance. See more information on Report Authority disclosure management capabilities here.
Want to get under the bonnet?
Download our product factsheet and detailed product specification.