IRIS Bushchat is an XBRL validation processor, which can be plugged into any software product to test the correctness, validity of their XBRL and iXBRL instance document. The validation engine plays a vital role in perfecting the quality of financial reporting information in XBRL.
It is designed to be fully compliant with XBRL specification and can be seamlessly integrated with existing application in a variety of ways including web services or APIs.
Key features of IRIS’ Bushchat include validation of XBRL instance, validation of XBRL taxonomies and supports assertion based iXBRL / XBRL validation rules. The tool has the ability to be used in conjunction of other tools to validate data.
Specification supported
Bushchat supports the following XBRL specifications:
- XBRL 2.1
- Dimensions 1.0
- Extensible Enumerations 1.0 & 2.0
- Financial Reporting Guidance
- Formula 1.0
- Generic Links
- Generic Preferred Label
- Inline XBRL 1.1
- Table Linkbase 1.0
- Taxonomy Packages 1.0
- Units Registry 1.0
Products Features
Specification Checks
Validation of XBRL/inline XBRL instance, schema, and link-base documents against specifications
Extraction of Data
Extract XBRL instance document data from iXBRL instance documents
Formula Processing
Supports assertion-based validation of custom / specific rules using formula linkbase
Store Taxonomies Locally
Ability to reference published taxonomies stored offline in a local repository
Error details
Ability to point to specific tags/line items in the instance document containing the error
High scalability
Scalable architecture and built to handle high volumes (Tested for up to 1 GB single file size)
Easy Integration
Integrated with other applications using web services. Has real-time and batch processing capabilities
Language Support
Supports customize error messages and display error messages in multiple language
Data quality checks
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Data Type
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Text, numerical, GIS Coordinates, date/time, logical (1/0) as well as custom defined data types (for e.g., first three letter text, followed by 10-digit numeric values followed by 2-digit text)
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Mandatory items
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Checks to ensure that mandatory items are present in the filings
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Mathematical
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Any kind of mathematical formulae i.e summation, multiplication, division on any of the data/group of data items present in the filing.
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Range
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Checks that a user's entry is between specified lower and upper boundaries.
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Third Party
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Check third party database for values and compare with what's reported in the document submitted.
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Severity Level
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Categorise issues into “warnings” and “errors”. Filings with warnings can be accepted and Filings with errors would need correction before filing.
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