You have two choices for SEC financial statement filings you can buy expensive software to comply with US GAAP, IFRS, and Risk/Return Summary taxonomies or you can have XBRL filing services that you can trust on board. The latter is the better and easier choice.
Who Do You Trust?
The SEC is a clear cut regulatory body, they put out the rules, businesses follow them, or else. There is not a lot of wiggle room when it comes to filings, you must be sure that you are using a trusted service that can easily manage the XBRL filing services without worry. The right firm has experience and the state of the art technology that can:
- Map Your Documents-analyze, identify and use the taxonomy categories
- Tag and validate your documents
- Provide you with a mapping report
- Provide revision requests for an additional fee
- Submit the validated documents to the SEC
A trusted firm will be able to do all the above and more and keep it all cost effective for your firm. You will have the peace of mind knowing your filings are done right the first time and that they are exactly what the SEC and other regulatory bodies are looking for. An experienced firm will have the technology in place and skilled providers ready to handle your filings!
The Problem with Software
The fact is that you can buy the software and try to get this all done on your own (with the help of staff of course) but without experience you may wind up with a boat load of questions from the SEC which could tarnish your company’s reputation. The software is expensive, not user friendly and can take months to acclimate too. It is far easier to choose a trusted provider and turn it over to them. Turn your filings over to Colonial Stock Transfer the trusted transfer company!
