Homnet helped simplify the XBRL reporting process at Title Broker

2022: Implementation of Homnet: XBRL to facilitate XBRL taxonomy reporting

LLC "IC" Title Broker "has completed work on the implementation of the program" Homnet: XBRL. " The system implements convenient mechanisms that simplify the preparation of accounting (financial), supervisory and statistical reports on the XBRL taxonomy. This was reported on January 20, 2023 in the Khomnet Group of Companies.

Within the framework of the approved work plan, the specialists of the Homnet Group of Companies installed and configured Homnet: XBRL, trained users on manual input data and loading XBRL reports into the program. The project also included the joint preparation of the first reporting package from "Homnet: XBRL." In the process of submitting the monthly XBRL reporting, methodologists and experts from the integrator advised the specialists of IK Title Broker LLC.

The training contributed to a smooth and comfortable transition to work in this system. LLC "IC" Title Broker "for January 2023 accepted the system into commercial operation and continues to cooperate with the Khomnet Group of Companies already within the framework of the support agreement.

The functionality automated on the project includes:

• working with taxonomy;
• validation of data according to the Central Bank taxonomy rules;
• process data verification;
• formation of a reporting package according to the taxonomy of the Central Bank.

The introduction of Homnet: XBRL led to a decrease in the burden on employees involved in the reporting process, significantly reduced the time for data collection, and also, thanks to automatic data verification, the number of reporting errors decreased. The main thing is that the risk of receiving a prescription from the Central Bank is minimized due to the prompt update of the system in accordance with constantly changing regulatory requirements.