Q.

How to submit the XBRL data to CMA?

A.

The data can be submitted using an Excel based XBRL preparation tool, where the values from the reports are to be inputted in the Excel based template for each statement or note.

Q.

How to submit the information in the auditor's report, and who will submit that information?

A.

The information in the auditor's report is to be submitted by the reporting entity. The information can be submitted by copying the information (e.g. Basis of opinion, other matters etc.) from Auditor's report (which can be in Word or PDF format), and pasting in the Excel based preparation tool. In the tool, on double clicking the text block input field, a text editor will open in a pop-up window, where the information can be pasted. The same will be included in the generated XBRL output.

Q.

How to add information in ‘Notes to accounts’ in XBRL format?

A.

The information present in the notes to accounts can be captured as a text block, by copying the note from the report, and pasting it in the Excel based preparation tool. In the tool, on double clicking the text block input field, a text editor will open in a pop-up window, where the information can be pasted. The same will be included in the generated XBRL output.

Q.

How to add information in English and Arabic in XBRL format?

A.

Separate values English and Arabic are not required for numeric information. Only for the information in the textual format (e.g. Auditor's opinion, Notes to accounts), the details can be entered both in English and Arabic format, for which 2 separate columns are provided in the Excel based preparation tool.

Q.

Where can I get the presentations from the town hall sessions?

A.

The presentations as well as the recordings of the town hall sessions will be available on CMA XBRL page.

Q.

Will the XBRL submission replace the current PDF submission of financial statements - for both quarterly and annual financials?

A.

Yes, the current submission in PDF will be replaced by submissions of financial statements in XBRL eventually.

Q.

Does the Excel based preparation tool have the mechanism to generate XBRL ZIP file?

A.

Yes, after submitting the information, the user can generate the ZIP file from the tool containing the XBRL output.

Q.

How to validate the data submitted in the preparation tool?

A.

When user clicks on 'Generate XBRL' button available in the preparation tool, as part of the process of generation, the validation will also be run on the information. If there is an error, an error message will be shown to the user with details. The error message will be shown either in English or in Arabic, based on the language selected by user from the tool. Only after resolving all the errors, a valid XBRL output will be generated from the tool in a ZIP file.

Q.

What are the timelines we are looking to implement this project?

A.

The details of this implementation will be conveyed by CMA soon.

Q.

Is the submission in XBRL applicable for annual and quarterly submissions?

A.

Yes, the XBRL submission is to be done on annual and quarterly basis.

Q.

Will the input in English get automatically translated in Arabic?

A.

The tool will not automatically translate the information in English to Arabic. However, separate columns for input in English and Arabic will be available for statements where textual information is to be submitted. For numeric information, the information will not be language specific, and needs to enter only once.

Q.

For consolidated financial statements, how to consider the eliminations?

A.

The financial statements are to be submitted in XBRL after considering the adjustments for consolidation, including eliminations.

Q.

If the Auditor's review report (quarterly basis) is not applicable to an entity as of now, will it become mandatory after XBRL implementation?

A.

The current regulations for financial reporting will continue to be applicable for XBRL implementation as well. The Auditors report and Auditor's review report at quarterly basis is to be submitted only if applicable as per the regulations issued by CMA.

Q.

In the income statement, is there a section for Other comprehensive income?

A.

Yes, there is a separate statement for Other Comprehensive income section of Income Statement. (For Insurance and reinsurance companies, it is part of the income statement).