From Q1 2014, the FCA and PRA require most banks, building societies and investment firms to report under CRD IV in a new XBRL format.

This means that all affected firms will need to procure technology to ensure compliance come the 30 April and 30 May 2014 deadlines.

• For more information about the requirements click here
• Find out more about our COREP consulting services

Background

Using our expertise in this area, combined with KPMG's deep Financial Services industry knowledge, we have designed a simple solution designed to remove the pain of XBRL from the filing process.

The K-Helix software

Core Functionality:

• Allows easy consolidation and entry of data into COREP templates.
• Converts data automatically to XBRL and performs all technical validation checks, without any user action or knowledge of XBRL.
• Allows for establishment of managed links to and integration of spreadsheet data sources.

Additional Features:

• Maintains a record of data filed and allows easy updating of information at the next reporting period.
• Keeps a user-by-user and cell-by-cell audit trail.
• Allows for comparisons between filings.
• Simple design so can be implemented quickly with minimum handholding and at a nominal cost.

FCA Guidelines:

• Continually updated for any new templates or amendments to the templates.
• Allows direct submission to the FCA from within the software.
• Fully compliant with FCA requirements for submission formats.  

More information on the FCA guidelines

Client Testimonials:

"User friendly and well thought out solution. Uncomplicated with good functionality, minimal training required. Excellent cost/benefit in comparison to other vendor solutions. Good layout. Dash board controls, real time validations, complete error mapping/linking is available on one screen."Project Manager: COREP, Australian Bank

“KPMG’s K-Helix is an impressive COREP-FINREP regulatory reporting tool. It is fully transparent with a clear audit trail and validation checks.”