In terms of data quality, the report lauds Friend client Airtel Africa, who instituted a rigorous assurance process around their ESEF disclosures, bringing in several stakeholders including their own technical accounting team, Friend as their specialist ESEF implementation provider, and their external auditor.
Concerning usability, Experian’s advanced interactive XBRL annual report – developed using Friend’s innovative single-source content management system to be equally readable by humans and machines – was described as responsive, interactive and accessible. These crucial digital reporting functions are only now possible, and will enable companies to comply with the incoming requirements of digital regulation and growing stakeholder demands for something beyond print and PDF.
While many reporters used a PDF-to-XHTML conversion tool for ‘year one' of ESEF compliance, the FRC’s recent guidance concludes that, in terms of user experience, such conversions cannot compete with reports like Experian’s.
This innovative approach to digital reporting, known as ’native XHTML’, is also endorsed by the technical standards setters at XBRL International, who recognise that future digital reporting will require reporters and their specialist providers, like Friend, to make significant advances in terms of both process and software.