The Swedish Companies Registration Office, Bolagsverket, has launched a service for the filing of company accounts in eXtensible Business Reporting Language (XBRL). 

The service will accept full annual accounts from small and medium sized entities (SMEs).  It covers primary financial statements, notes, the Directors' Report and Audit Report.  Several hundred thousand companies are eligible to use the service, which was launched on 1 July.

The service uses taxonomies to categories concepts in Swedish Generally Accepted Accounting Principles (GAAP) which were developed by the Swedish XBRL jurisdiction.  One taxonomy covers annual reporting by SMEs, which follows a standard format, and another covers Swedish audit reporting.

Bolagsverket's service does not yet handle listed companies, which file under International Financial Reporting Standards (IFRS), financial companies, consolidated or interim reports.  However, it will gradually extend to these areas, beginning with consolidated and interim reports. 

The service supports automatic validation of accounts by software, display in human readable form as PDF files and digital certification of documents.

Announced by:

Peter Calvert

XBRL International