Trintech Group Plc says it has become one of the first companies to file a fully XBRL-compliant Form 20-F with the U.S. Securities and Exchange Commission – including detailed level 1-4 XBRL tagging. The company which provides financial governance, risk management and compliance (GRC) solutions has used its own product to prove how the solution should work.
"There has been quite a bit of industry discussion and uncertainty in the marketplace regarding the SEC's phased XBRL mandate," said Joe Seery, Trintech's Vice President of Finance and one of the principal supporters of the project. "Finance departments are unsure how to comply, how much time or effort will be required, or what a holistic compliance solution might require in terms of software deployment or the processes requiring engineering. We decided to utilize Unity XFR and select Trintech professional services experts to better answer these questions for our customers and ourselves. We now understand just how efficient a holistic financial reporting solution can be at automating the creation and management of the financial statements itself, including the extension taxonomy, detailed XBRL tagging, and the final filing of the report with the SEC."
Unity XFR is a component of Trintech's Unity platform. The final XBRL-enabled financial statement can be found online at the SEC's web site via the following link.
