Lombard Risk Offers Free XBRL Checker Tool

The rool, XBRL-Checker, is free to use regardless of whether a firm is a Lombard Risk client or not. While the UK Financial Conduct Authority (FCA) has its Gabriel system in place for firms to check and validate reports, error messages are non-specific as to origin. XBRL-Checker allows firms a greater insight into the assertion IDs underlying reports, allowing them to ascertain where the issue has arisen with greater speed.

We started hearing from firms experiencing problems understanding the regulators' submission validation error codes and Assertion IDs, so developed this free-to-use application to provide some relief," says Nick Davies, CTO at Lombard Risk. "XBRL-Checker makes it easier to investigate the errors and demonstrates the power of the Lombard Risk platform and our extensive knowledge of XBRL."

The deadline for XBRL reports associated with Common Reporting (Corep) requirements is June 30. Firms will be able to input the error ID from regulators, which will then return a list of areas associated with that ID, allowing for a narrower range of fields to check.