NPF Bolshoi submits XBRL reports to the Bank of Russia from Homnet: XBRL

2022

XBRL International Reporting Automation

IPPF "BIG" (hereinafter referred to as the Fund) has automated reporting in the international XBRL format based on the software solution "Homnet: XBRL." This was announced on July 6, 2022 by Homnet Consulting.

Financial the market expects big reforms - these are the implementation IFRS (IFRS) 17 "Contracts" and insurance IFRS 9 "Financial Instruments." In order to quickly, without risk and stress, adapt to constantly changing supervisory requirements, the company must build a reliable and flexible information system. Taking into account these circumstances and the low efficiency of the inherited system, the Fund initiated project the automation of current accounting processes and the preparation of regulated reporting on the platform of software products of the Khomnet Group of Companies.

Earlier, the Fund has already done a lot of work on the comprehensive automation of accounting and tax accounting on the basis of "Homnet: NFO," the results of which are published on the website of the Project Executor. The second step in automation was the introduction of the XBRL reporting module.

A technological solution consisting of the Khomnet: NFO accounting system and the Khomnet: XBRL industry reporting module are used by 30% of the NPF market, including large Russian funds.

As part of the implementation of Homnet: XBRL, the following tasks are implemented:

• Initial setup of Homnet: XBRL and training of key users in the program
• implementation of methodological cases for obtaining data "Homnet: XBRL" for supervisory reporting (NSO) and for accounting reporting (BFO) from the accounting system "Homnet: NFO";
• setting up the loading of reporting indicators from the system of operational accounting of pension activities;
• implementation of mechanisms for unloading and subsequent loading into/from Excel of the main registry reporting tables according to forms 0420257, 0420258;
• instructing users on how to work with the system.

At the stage of trial operation, the first quarterly reporting (accounting, tax and supervisory) from the created system was submitted by the Fund with methodological support from the Khomnet Group of Companies. The reporting successfully passed the Central Bank's audit.

Implementation of Homnet: NFO

On June 7, 2022, GC "" Homnet announced that together JSC MNPF "BIG" (hereinafter referred to as the Fund) they had successfully implemented a project to introduce a centralized accounting systems one for non-bank financial organizations.

According to the company, one of the main tasks of the project with which the Fund applied to the Khomnet Group of Companies was the insufficient functionality of the tax accounting unit in the accounting system used. At the same time, the Fund had complaints about other accounting functions, in particular, about accounting for financial instruments.

In connection with the upcoming major changes in the accounting and reporting of NPFs, namely the entry into force of IFRS 17 and IFRS 9, the need to "put in order" accounting processes has become apparent. In order to minimize risks when switching to other standards, the fund decided to replace the current system and chose Homnet: NFO for itself.

The specialists of Homnet Group conducted a survey and determined the project strategy, specified the functional and business requirements of the Customer and drew up a work plan.

The implementation of Homnet: NFO was implemented in several stages, the project lasted six months. At the beginning of the project (the first stage), the specialists of the Homnet Group of Companies made the initial configuration of the system and preparation for operation. At this stage, the production and test environment were prepared, the accounting parameters were adjusted in accordance with the Customer's accounting policy. Accounting employees were trained on the basic functionality of the Homnet: NFO software product.

The second step involved downloading the original data. To minimize manual labor of the Fund's employees when filling the information base with initial balances and regulatory reference information, data was loaded from the previously used systems by accounting sections with a large number of analytical accounting objects:

• accounting of fixed assets and intangible assets;
• RBP accounting;
• accounting for securities.

The task of putting in order the arrays of reference information was also solved in order to clean the original credentials from takes. Users were consulted on entering balances for other accounting sections.

At the third stage of the project, the specialists of the Homnet Group set up integration. As part of the internal integration loop, the system was configured to upload data from the pension accounting system and from the payroll accounting system (1C: Payroll and HR Management). In terms of external integration:

• You have configured to load trust portfolio activity data from files provided by management companies. Thanks to the capabilities of the settings of the Integration Tools subsystem as part of Homnet: NFO, the data loading settings were adjusted to all data formats that differ among management companies.
• For the purpose of accounting for investments in securities according to industry accounting standards, it was necessary to provide a system of reference data on financial instruments, as well as exchange and market information. The interaction with the source of this data (the exchange information system for financial instruments) is configured automatically through the API gateway.
• You have set up a customer-bank payment download.

The fourth phase involved setting up a financial instrument accounting system. At this stage, the accounting policy for financial instruments (shares, bonds, PAIs, repurchase transactions, deposits) was set up. In particular, the assessment of the fair value of securities was automated, including valuation models for non-active market instruments based on risk forecasting based on exchange data and credit ratings.

The last (fifth) stage included test and pilot operation. During the test operation, with the support of the specialists of the Khomnet Group of Companies, the reflection of accounting operations for the indicative period was loaded, according to the results of which the functionality and settings of the system were checked, as well as the reconciliation of the results of settlements for trust portfolios with management companies. As part of the pilot operation phase, consulting and technical support of users was provided when using the system in operating mode.