The CIPC is currently running a Programme aimed at rolling out XBRL (eXtenisble Business Reporting Language) as Digital Financial Reporting Standard. This will apply to submission of all Annual Financial Statements (AFSs) from entities to the CIPC as from 1 July 2018, when XBRL will become mandatory. Receiving financial data in a structured format, as enabled by XBRL, both efficiency and effectiveness of the CIPC will be vastly improved.
Through the powerful analysis capabilities of XBRL, CIPC will be able to determine trends in various industries and the economy as a whole. XBRL also provides benefits to entities, like better accuracy in reporting, and cost effectiveness with regards to preparation of AFSs.
XBRL Update: You may have heard about XBRL, but have no idea what it is all about - except perhaps that you need to start using XBRL for reporting your Annual Financial Statements.
Hennie Viljoen, XBRL Programme Manager - CIPC
Hennie works for Deloitte on the CIPCs XBRL Programme as XBRL Programme Manager. His responsibility is to manage all aspects of the programme. These include change management and communication with all stakeholders, as well as the technical development and implementation of a XBRL Reporting Platform interfacing with all client entities of the CIPC.
After Hennie completed his B.Sc. in Computer Science & Mathematics from the University of Johannesburg, he had been involved in application development ranging from Mathematical and Computer Aided Design (CAD) software in an engineering environment, to large corporate applications in a financial regulatory environment. He also holds an Advanced Certificate in Information Systems Management (ACISM) from the University of Pretoria, and has held management positions for around 13 years. These include Senior Portfolio Manager of Business Solutions at the Financial Services Board (FSB) where he also represented the FSB on the board of XBRL South Africa.
After his tenure at the FSB, Hennie worked for SABMiller as Governance Consultant, and now for Deloitte as Programme Manager of the CIPCs XBRL Programme.
The webinar series is organized by SAIBA for the benefit of all persons performing accounting and company secretarial functions:
This is a free monthly webinar series for all accountants.
Attendance of this two-hour webinar will accrue 1 hours’ CPD for members of a relevant professional body such as ACCA, SAICA, AAT, SAIPA, SAIBA, IAC, CIS, ICBA, LSSA, FPI, and the IBA.
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