CleanScore Evidence Package™

Finally, accountants have the tools they need to be sure they their SEC XBRL financial report ticks and ties, cross casts and foots, is complete, correct, consistent, accurate, and otherwise tells the story which they choose to tell.

How? Using the CleanScore Evidence Package . This document explains ten ways the Evidence Package can help you manage your risk. Prove to yourself that your SEC XBRL financial filings says what you want it to say.

Ten ways the CleanScore Evidence Package can help you create better SEC XBRL financial reports

With the limited liability grace period gone or fast disappearing, and frequent indications that XBRL issues will start to appear in SEC Comment Letters, Filers can’t afford to assume that their XBRL is “good enough”. No matter how XBRL exhibits are constructed, including via reputable third-party firms, they remain a management responsibility. Filers need to be able to show that they are aware of this responsibility and that they have policies and procedures in place for reviewing their XBRL reports and documenting the steps carried out throughout that review.

XBRL Cloud is the market leader is technical verification of XBRL documents, used every quarter by filing agents and preparers to review more than 70% of all SEC filings for technical errors before they are filed. The new CleanScore Evidence Package moves beyond technical validation to provide a straightforward and authoritative record of the efforts carried out to review an XBRL filing. It can be easily incorporated into your disclosure controls and procedures. It provides a lasting and easily understood record of the work carried out in reviewing an XBRL exhibit. It helps ensure that the XBRL correctly and completely reflects all aspects of the relevant report. Ultimately, it provides a mechanism that lets filers formally “prove” their XBRL documents.

The takeaway

The CleanScore Evidence Package provides a framework, a process, and an easy to navigate Dashboard that filers can use to quickly identify and then focus on possible errors and omissions, and to step through the process of ensuring that their SEC XBRL financial report ticks and ties, cross casts and foots, is complete, correct, consistent and accurate.

Described in more detail below, here are the Top Ten reasons to incorporate the CleanScore Evidence Package into your SEC filing process:

Set out below is further information about each of the Top Ten reasons to incorporate the CleanScore Evidence Package into your filing process, together with screen shots and links to videos from the product. A free product trial is available today.

1: – Clearly understand what you are responsible for and document what you have reviewed.

Many accountants are not really sure what they need to do to check that their SEC XBRL financial report is created properly; they simply are unaware of what they are responsible for. This is no longer the case with the Evidence Package .

The verification summary provides an easy to read dashboard which summarizes exactly where you are. If you leverage automated rules, we show you all those automated rules. Where manual steps have been taken to review aspects of the filing, the Evidence Package shows which tasks have been used to make sure your financial information is reported correctly.

Click on the “List” above each business rule set; that shows you the list of rules you have defined or which have otherwise been defined and which you must comply with

Watch this video to better understand this feature: http://www.youtube.com/watch?v=lBaE0PFcABU

2: – See and understand every aspect of your XBRL report in accounting terms, not technical mumbo-jumbo..

Often, reading the information in your XBRL financial report can be a challenge. This is no longer the case if you use the Evidence Package .

SEC interactive data viewer: (note that you cannot see 100% of the characteristics of the reported facts):

By contrast, in the Evidence Package , you can see all reported facts’ characteristics. (note that the reporting entity CIK number and the legal entity are explicitly shown.)

Watch this video to better understand this feature: http://www.youtube.com/watch?v=kXVp4hPfN2Y

3: – See all the related parts of your report together in one place.

Most software used to review an SEC XBRL financial report gives you one way to look at the report information in long lists of separate things.

But the Evidence Package gives you two perspectives: the lists or overviews, but also a report component perspective. From the report component perspective you can see the related parts of your report in one place. Each component has: a visual Rendering, SEC Preview, Model Structure of the component, Fact Table of the component, Business Rules, and a Combined view which puts all of these in one place.

Watch this video to better understand this feature: http://www.youtube.com/watch?v=fW7khEPLwsU

4: – Review your labels and quickly compare them to the FASB’s.

There are specific tasks you need to perform to be sure your SEC XBRL financial report is prepared the way you want it prepared and the Evidence Package provides an intuitive interface for each one. For example, comparing the label a filer used with the US GAAP Taxonomy published by the FASB can sometimes be challenging. Not any longer. The Evidence Package provides handy reports such as one below which lets you scan the labels along with documentation and report element names. And of course, from here you drill down to get more details.

Watch this video to better understand this feature: http://www.youtube.com/watch?v=R4Rn4p5pcPs

5: – Drill down to every last detail, whenever you want.

With the SEC previewer or other software, you only get to see part of the picture. With the Evidence Package , you can see the complete picture.

For example, here is the detailed information for the line item “Other”. Click on “Other” and you see the following in the SEC previewer:

Click on “Other” in the Evidence Package and you see all aspects of the report element, all its labels, all its references and every other piece of relevant information about that disclosure presented in a form an accountant can understand:

Watch this video to better understand this feature: http://www.youtube.com/watch?v=-jjiStLkQbI

6: – Review all computations using automated processes leveraging business rules that show the arithmetic relationships “cross cast and foot; tick and tie”.

With the SEC previewer and with other software, it can sometimes be challenging to read the business rules which communicate important arithmetic relationships between reported facts. Not with theEvidence Package. The business rules are easy to read and filled in with the values from your XBRL report.

Watch this video to better understand this feature: http://www.youtube.com/watch?v=NbxAu_8nD7Y

7: – Compare and contrast values in context by reviewing related facts together.

Reported facts each have several important characteristics. Sometimes it can be hard to make sense of a factrelative to other related facts.

With the Evidence Package you can quickly scan fact values while seeing all of the characteristics assigned to those values, together with other related facts. Errors and inconsistencies quickly stand out.

Need to see the details? Not a problem. One click on the Fact Value gives you all the details of the fact or clicking on any of the other report element such as any [Axis], [Member], or Concept and you can have a closer look at that information.

Watch this video to better understand this feature: http://www.youtube.com/watch?v=VPAhR_EjLKQ

8: – Terms an accountant can relate to

Some software applications force accountants to become XBRL technical experts. Not the Evidence Package. The Evidence Packageuses terminology accountants can relate to, burying the technical jargon where you can get at it if you feel you need it, but the important financial information you need to work with stands out. This lets accountants and other business users focus on the meaning of what they are trying to communicate, not trying to understand technical mumbo-jumbo which is best hidden from view.

And of course again, important details are only one click away.

Watch this video to better understand this feature: http://www.youtube.com/watch?v=kXVp4hPfN2Y

9: – Walk through the framework step-by-step, to ensure that every part of your XBRL Report is complete, accurate and consistent.

The Evidence Package helps you stay organized. Built by XBRL experts who are also financial reporting experts, the tool takes the guess work out of trying to create an SEC XBRL financial filing. If you stay within the provided framework ensures nothing but successful outcomes.

An SEC XBRL financial report is a discreet set of pieces. If each piece is correct and if the pieces fit together, then you cannot help but to be right. Basically, the Evidence Package helps you make sure everything ticks and ties, cross casts and foots.

Watch this video to better understand this feature: http://www.youtube.com/watch?v=uDeQyBvsCuU

10: – Finish with a Green Dashboard, for peace of mind about your review

What have you done to prove to yourself that your SEC XBRL financial report is both a true and fair representation of your financial information and the message which you are trying to convey to the user of your financial report?

The Evidence Package verification dashboard, shown below, helps you rest assured that your SEC XBRL financial report is complete, correct, consistent, and accurate. You can be sure all the pieces fit together correctly.

Watch this video to better understand this feature: http://www.youtube.com/watch?v=uMC9LNcmRl4>