Lombard Risk Management is now offering a free online tool to help firms resolve XBRL validation errors encountered when submitting European Banking Authority (EBA) regulatory reports to the Financial Conduct Authority (FCA) or Central Bank of Ireland (CBI).
The tool, XBRL-Checker, allows anyone, whether or not they are a Lombard Risk client, to type in the regulators’ validation error, and then the tool immediately displays which regulatory returns are in scope and which validation formula failed. XBRL-Checker can also email back a template showing the exact cells on the returns that have the problem, if the user requests it.
Firms have until 30th June to produce, test and submit the new XBRL regulatory reports in order to be compliant with the latest Common Reporting (COREP) rules.
Nick Davies, chief technology officer of Lombard Risk, says in a statement: “We started hearing from firms (NOT using Lombard Risk REPORTER) experiencing problems understanding the regulators’ submission validation error codes and Assertion IDs, so [we] developed this free-to-use application to provide some relief.”
Lombard Offers Free XBRL-Checker Tool
Lombard Risk Management is now offering a free online tool to help firms resolve XBRL validation errors encountered when submitting European Banking Authority (EBA) regulatory reports to the Financial Conduct Authority (FCA) or Central Bank of Ireland (CBI).
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