4/2/2004 - Fujitsu Software Corporation (FSW) announced that Interstage architect, Cormac McKenna, has been chosen by the Financial Services Authority (FSA) to be part of the Technical Working Group (TWG) for the newly established Software Suppliers Advisory Panel (SSAP). The panel will provide guidance and common understanding of the eXtensible Business Reporting Language (XBRL), the chosen technical standard for electronic reporting, to the ISV community in preparation for introduction of Integrated Regulatory Returns (IRR) from April 2005.
Cormac McKenna, Interstage architect, Fujitsu Software said, "The FSA's IRR system presents many technical challenges and opportunities to vendors and ISVs in the financial reporting marketplace, not least the XBRL-based reporting requirement for direct submission. XBRL will play an increasing role in financial reporting for other regulatory bodies and this is a chance for the UK to build up the skills and knowledge to apply this standard."
"The FSA is to be commended in using the TWG to keep vendors and the ISV community informed of its developments, and to channel the community's views, to ensure that a smooth adoption of the system is achieved," continued McKenna.
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