Tuesday, April 17, 2012

XBRL Cloud Verification vis-à-vis XBRL US Consistency Suite

One question we get frequently is the how XBRL Cloud's EDGAR Verification Suite compares to XBRL US's Consistency Suite (CSuite).  The short answer is that these are compatible--not competitive--products.  In fact, they work so well together that XBRL Cloud integrates and resells CSuite.

The EDGAR Verification Suite, at a very high level, provides:

  1. Automated Validation for XBRL 2.1, EDGAR Filing Manual, U S GAAP Architecture, and other best practices.  This automated validation is designed to assist filers in asserting that they are following all known best practices.
  2. Interactive Verification Application that allows users to visualize, manipulate, and inspect an XBRL document.
  3. Automated generation of documents to support an Evidence Package.
The Consistency Suite, on the other hand, provides:
  1. Automated Validation to help filers assert that they are using the correct tags with appropriate values and contexts.
  2. Comparison Application to help filers see how other companies are using tags.
You will want all available tools at your disposal every quarter to help in the verification process.  Using one package or the other will provide a certain subset of the necessary checks:  you would only be verifying some aspects of your filing.

You an learn more about the EDGAR Verification Suite here, or more about the Consistency Suite here.