Listed Companies Are expected as laid down in SEBI Listing Regulations to submit compliance filings that were periodical to Stock Exchanges within the timelines. Each Stock Exchange has provided platforms to different and customized compliance filings. Effectively firms are obligated to submit the compliance data in each stock market in arrangement and the format. Additionally, compliance filings are also made by Listed Companies in format individually with MCA. This has led to duplication of efforts for its companies that were listed. If Stock Exchanges follow arrangements for compliance filings this issue can be addressed and embrace filing arrangements of MCA specified. For the benefit of NSE has chosen to introduce XBRL based compliance filing mechanism comprising compliance data that was homogenous and identical structures between Stock Exchanges / MCA.
This can help companies that are listed to use the compliance information created in format in Stock Exchange to upload in NSE. Submit compliance information and create compliance information in format for use. Because of the elements of xbrl filing services singapore information, it enables reporting data move between organizations digitally and accurately. The data is made by XBRL Readable, with the support of two files – Taxonomy and case document. Defines their connections based on the requirements and the components. Using the taxonomy, their accounts can be mapped by businesses, and create a XBRL instance document. Along with assigning XBRL label from taxonomy, data like unit of measurement, period of data, scale of coverage etc., are contained in the instance document.
XBRL in NSE
The Exchange has supplied online platform NEAPS NSE Electronic Application Processing System wherein listed companies must submit all of the compliance disclosures to the Exchange from the SEBI prescribed format. To be able to facilitate ease for companies across Stock Exchanges in compliance filings, NSE has opted to give XBRL based compliance coverage comprising homogeneous and identical compliance data structures between MCA and Stock Exchanges. This facility has been provided with an Additional flexibility for companies to file compliance reports in the following manners
- Data entry / file upload: Via precisely the module, under manner of filings, employers will submit the compliance reports continuing the same the data submitted by companies shall be converted by means of a utility in-built in the NEAPS system to format. Post entry that is such, companies that are listed can download the files for additional use.
- XBRL file upload: Listed Company can upload XBRL documents Generated with their office / through utility supply by Stock Exchanges where provided in NEAPS system.