"NPF Pervy industrial alliance" handed over the obligatory reporting to the Bank of Russia using XBRLEngine

JSC NPF Pervy Industrial Alliance announced on April 5, 2018 successful submission of reports to the Bank of Russia for January, 2018 using the product XBRL Engine from Diasoft.

Since January 1, 2018 NPF The First Industrial Alliance, on an equal basis with other non-credit financial institutions, is obliged to provide the reporting to the Bank of Russia in the XBRL format. Having risen before the choice of the IT supplier for the solution of a problem of process automation of preparation of the accounting financial statements (AFS) and the supervising statistical reporting (SSR) in the XBRL format, the NPF held the tender which winner was a Diasoft company.

With implementing solution for "NPF Pervy industrial alliance" the internal process of preparation of the reporting did not change as possibilities of XBRL Engine allow to convert data in formats, usual for the organization, including into Excel tables.

In spite of the fact that in plans of the Bank of Russia to release the next versions of taxonomy and to make changes to process of preparation of the reporting, labor costs on its providing for NPF will not be required. After short training in work with XBRL Engine the staff of NPF will be able independently to prepare data for the reporting in a usual format, according to the IFRS standard used in accounting of the organization, to load them into XBRL Engine and to create a XBRL reporting packet, ready to be shipped to the Bank of Russia.