Control and benchmark ESEF reports with PRISM

With PRISM, issuers and auditors alike can finally rely on a neutral and reliable solution to control ESEF report data. PRISM, which is XBRL and ESEF compliant, facilitates the process of filing annual reports in electronic format and is fully compliant with regulatory expectations.

But that's not all, our solution goes further: it also allows you to compare your data with those communicated by your European peers. Let's take a closer look at this tool !

Take advantage of Corporatings' unique database

Corporatings is not an XBRL solution provider.

Corporatings is a provider of corporate financial data.

Indeed, Corporatings puts its experience, data and statistics collected during the constitution of its proprietary database (based in part on ESEF files) at the service of all. Our algorithms are based on this database to identify areas for improvement and offer new features for regulated information that is increasingly reliable, readable and transparent.

As a result of this unique positioning, PRISM is a reliable, complete and 100% independent solution . Its sole purpose is to help companies, auditors and all players in the value chain to master ESEF data and, above all, to derive maximum value from it! PRISM is an innovative solution that centralizes all the controls and information required for quality financial communication that can be used by all readers.

In a few words, PRISM allows you to:

- Visualize the tags and macro-tags used in the report with all their attributes

- Benchmark the tagging with that of other issuers

- Improve report quality with automatic accounting and technical checks

- Analyze differences between two versions of a report, two successive reports or those of subsidiaries

We will tell you more about the features of this application, which is already available on premise or SaaS and is totally secure.

PRISM: how does it work?

When a zip file is executed by PRISM, the tool provides two files: an Excel file (named "ExcelViews") and an HTML viewer. Let's see what information they contain right away.

ExcelViews: What does the Excel file generated by PRISM contain?

- A facts list which contains the extraction of all the tags used by the issuer and all their attributes: for each concept, one sees whether it is a direct or an extension, in which case one sees how it is anchored, to which financial statement it belongs, its value, which date and period it refers to. This aims at providing exactly the data contained in the zip file, displayed in a logical form for users and so that they can be used or checked easily.

- A benchmark report which provides a comparison of the tags used by the issuer to the tags that were used by other ESEF issuers. The tags used by the issuer are compared to tags that were very commonly used by other issuers and also to tags that were rarely used by other issuers. This enables the issuer to make useful consistency checks. The benchmark data are based on the ESEF reports issued throughout Europe.

- A mandatory tags list which permits to see whether the tags that are mandatory are present in the financial statements. This is an automated ESEF disclosure checklist.

- A validation report which displays the automated errors/warning messages configured in Arelle , the open source platform dedicated to XBRL. These messages simply replicate Arelle’s configuration. The aim is to have a view of the automated checks that issuers will have when filing their ESEF zip with the AMF.

- A report with additional controls. This report displays multiple technical and accounting automated controls that supplement those in Arelle.

- A calculation report which displays the list of all calculations performed in the ESEF file, indicating whether the calculation is valid, consistent or inconsistent. The user of Prism can also use this report as a basis to check completeness of calculations.

- A technical "package and hash" sheet that mostly embeds the “SHA” digital print of the file zip and of all files included within the zip, so that one can easily identify the zip file that is being used/checked.

HTML viewer

The viewer permits to go through the HTML file i.e. the “human readable” version of the annual report and view the embedded tags in dedicated windows. This HTML file is an open source file.

Comparison function

When one has two successive versions of a zip file, e.g. following a change made to some figures, both files can be integrated and the user obtains a comparison of all concepts between the two files, showing concepts that are unchanged, modified, added or deleted . This allows easy tracking of changes between two versions.

PRISM also saves time and facilitates exchanges, lack of visibility on the reliability of the data entered, lack of readability of data, endless back and forth between the company, the auditor and the XBRL editor, loss of time in the appropriation of the ESEF format... The difficulties encountered by companies with the ESEF are numerous! Whether you are an issuer or an auditor, the use of PRISM will allow you to save a significant amount of time in the production of your reports, while streamlining your exchanges with your various partners.

Corporatings: a team of financial experts at your service

The Corporatings team, including its co-founder and CTO, Marc Houllier, an XBRL expert, is at your disposal to answer your questions and help you explore and exploit ESEF publications.

Don't wait any longer and contact us now for a demonstration of the added value of PRISM! or contact us.