Arkk Solutions Expands Global XBRL Services

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Arkk Solutions, the leading provider of iXBRL software and services in the UK has announced that their tagging software now supports Indian XBRL, US-GAAP and Republic of Ireland iXBRL (to be introduced in Q3 2012). The technology house, one of the first companies to launch iXBRL software in the UK, gained UK HMRC recognition for their iXBRL services in June 2010.

Arkk Solutions iXBRL Tagging Software

iXBRL Tagging Software

Our experience over the past few years has put us in a position where we can now adequately cater for new customers in new markets across the globe.

Arkk Solutions, the leading provider of iXBRL software and services in the UK has announced that their tagging software now supports Indian XBRL, US-GAAP and Republic of Ireland iXBRL (to be introduced in Q3 2012). The technology house, one of the first companies to launch iXBRL software in the UK, gained UK HMRC recognition for their iXBRL services in June 2010.

XBRL stands for eXtensible Business Reporting Language and it’s an internationally recognised standard for reporting financial information online. HMRC recently adopted iXBRL, the human readable variant of XBRL and mandated that all companies submitting their corporation tax returns including Accounts and Tax Computations after 1 April 2011 must do so online in iXBRL format. Prior to iXBRL, companies either sent their accounts to HMRC by post or submitted a PDF version online.

Documents in iXBRL format are readable by computers and humans alike, while those submitted in XBRL format are only readable by computers. In recent years, there has been a significant increase in the number of countries adopting XBRL or iXBRL worldwide. This is mainly due to the increase in work efficiency when using the formats and significant reduction in administrative costs.

Arkk Solutions currently offers a complete range of XBRL and iXBRL services, including software and a fully managed tagging service. Based in London with a team of over 20 qualified Accountants, the software is currently used by many leading companies and accountancy firms in the UK.

Richard Metcalfe, Managing Director of Arkk Solutions, said: “As the adoption of XBRL and iXBRL grows worldwide, we have noticed that some of our customers in the UK now require a truly global solution that can handle the expected differences in the tagging requirements for each country without major changes to the process they’re already familiar with. Our experience over the past few years has also put us in a position where we can now adequately cater for new customers in new markets across the globe.”

In line with the recent expansion, Mr Metcalfe will be attending the UAE iXBRL conference in March 2012. Follow Arkk on Twitter @ixbrl for all updates from the conference.

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Esther Josiah

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