The NSSMC (National Securities and Stock Market Commission) informs the capital market participants and issuers of their obligation to submit financial statements to the Financial Reporting Collection Center by December 31, 2021. These are the annual financial statements and the annual consolidated financial statements for 2020, as well as interim financial statements and interim consolidated financial statements for 2021, prepared on the basis of taxonomies of financial statements under the International Financial Reporting Standards (IFRS) in a single electronic format iXBRL.
The Regulator draws attention that the submission of interim (quarterly) financial statements for 2021 in iXBRL format to the Financial Reporting Collection Center is possible only after the submission of annual financial statements for 2020. At the moment, over 1110 reporting units of financial statements have been submitted to the Financial Reporting Collection Center.
“We understand that the submission of financial statements under the new format can be a difficult task. Therefore, we have prepared step-by-step instructions and recommendations for all stages – the registration of a participant, the filling out a profile, the creating of a report, and working with free software. You can find it on the website of the Financial Reporting System,” says Yurii Shapoval, the Commissioner of the NSSMC, responsible for this area of work of the Regulator.
We also want to emphasize that statements’ submission to the Financial Reporting Center is absolutely free procedure, in contrast to the procedures for disclosing regulated information through a person who conducts activities for the disclosure of regulated information on behalf of capital market participants and organized commodity markets professional participants.
If you have any questions about the process of forming and submitting the statement’s file based on iXBRL taxonomy of IFRS 2020, you can contact us:
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