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iXBRL: ‘an opportunity to adapt’

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We’ve opted to embed the change into our existing process through the use of accounts production software using customised pre-tagged proforma financial statements. Our core criteria for an iXBRL solution include: provide a robust and automated approach to completing the iXBRL tagging process; adapt to the expected future increases in the iXBRL taxonomies listing; provide a high-quality audit trail; drive a slicker, more automated statutory accounts process than our current manual process; and allow us to standardise the format of our UK statutory accounts. The solution we’ve opted for saves us precious time and has revolutionised our business processes.

Richard Needs, Head of Tax, Cable & Wireless Worldwide PLC