Today’s Economic Times carries an article about SEBI wanting to create a committee to view/ review the qualifications by the auditor. Sounds good? Let us see what a sister organization MCA (Ministry of Corporate Affairs) is doing. They get the significant Indian companies to file their Annual Returns in XBRL format. In the XBRL […]
The MCA mandate is out and all companies are in a ‘searching’ mode of how to comply with the mandate. Predominantly there are 2 options – buy software, learn the skill and do the tagging yourself, or give your annual return to a ‘conversion’ specialist. The conversion specialist will convert it for you and give […]
For many companies – which come under the MCA mandate there is a need to file their annual returns in xbrl format. This happened because there were some companies which were filing very poor quality of info while filing the details with the RoC. The sad part of non compliance by a few people is […]
Indian mutual funds will soon have to report their monthly, quarterly and annual numbers to the regulatory authority (SEBI) in XBRL. For doing this they need to buy a software which will convert their excel sheets into xbrl documents. This tool is a must because the returns have to go very often (MCR is a […]
Are you ready for XBRL? Well preparedness for xbrl can mean different things at different levels of the xbrl chain. Board level: If you are a member of the board of directors of a company, you need to know that the Ministry of Corporate Affairs has mandated reporting in XBRL format. You need to know […]
If you are a reasonably big company you need to file your Annual Returns with the RoC (Registrar of companies) in the eXtensible Business Reporting Language. Annual Returns include your Directors Report Auditors Report Profit and Loss Account Balance sheet Notes on accounts Management Discussion Analysis…etc. A company has to file its AR in xbrl […]
Let us break some myths: 1. SEBI is here to protect the small investor: Well tried! Nobody is here to protect the small investor, but to keep the small investor a facade has to be created. So along with MCA, ROC, IRDA, CLB, ..one more body was needed to complete the alphabetic soup so the […]