XBRL Conversion & Filing Services

About Us:

Eppeok Solutions Pvt. Ltd. has been a service provider for XBRL conversion with experts who have been doing SEC filings in XBRL for US clients.

Eppeok Solutions provides value added and high quality services in the domain of Finance & Accounts:

  1. Consulting services
  2. Finance & Accounts
  3. Outsourcing Services
  4. Internal Audits

We have a separate division for XBRL conversion services. Key associates at ES have rich experience in the area of Finance, Taxation, Accounts,

Management and Information Technology.

Utilizing more then 10 years of industry experience and functional expertise, we look innovatively beyond standard solutions to develop new insights, drive tangible results, and empower clients to achieve greater results.

Providing quality service with complete responsibility is natural to our corporate culture.

 

What you need to provide?

Your company needs to provide the current year’s annual report(s) along with some additional Information and we will send the validated & MCA filing-ready XBRL documents to you.

ES’s XBRL analysts who are trained accountants with XBRL domain knowledge will choose appropriate tags for your financial statements and create and validate the XBRL instance documents.

This will go through a multi-layered quality control process after which the filing ready XBRL documents will be provided to the company.

Analysts will be available for feedback on any specific issues related to tag selection.

FEES:

XBRL conversion fee is based on the time spent on the conversion process, which varies across different clients because of varying volumes of data and levels of complexity in Financial Statements.

Tagging efforts, in the case of two companies having a similar number of pages in their Annual Report, can vary drastically from 50% to 100%.

We prefer to quote our fee after a review of your Annual report. Our professional fee is based on following factors:

  No. of pages in the annual report

  No. of subsidiaries of the company

  Volume of related party transactions

  Level of complexity in the Financial Statements

Normally, our professional fee for XBRL conversion service starts at Rs. 10,000 and may go upto Rs. 100,000.

Volume discounts will be applicable for practicing professionals (Chartered Accountants/Company Secretary/Cost Accountants) and group companies with multiple entities.

XBRL – An Insight

Attached is a compilation XBRL – An Insight for your ready reference.

 

Query on Tax Audit Assignments to be Signed by CA

Question: If there are 10 partners in a firm of Chartered
Accountants, then how many tax audits reports can each partner sign in
a financial year?

Answer: As per Chapter VI of Council General Guidelines, 2008
(Tax Audit Assignments under Section 44AB of the Income Tax Act,
1961), a member of the Institute in practice shall not accept, in a
financial year, more than the specified number of tax audit
assignments as prescribed under Section 44AB of the Income Tax Act,
1961. The specified number of tax audit assignments under Section 44AB
of the Income Tax Act, 1961 is 45.

It is further provided in Chapter VI of Council General Guidelines,
2008 that in case of firm of Chartered Accountants in practice,
specified number of tax audit assignments means 45 tax audit
assignments per partner of the firm, in a financial year.

Therefore, if there are 10 partners in a firm of Chartered Accountants
in practice, then all the partners of the firm can collectively sign
450 tax audit reports. This maximum limit of 450 tax audit assignments
may be distributed between the partners in any manner whatsoever. For
instance, 1 partner can individually sign 450 tax audit reports in
case remaining 9 partners are not signing any tax audit report.
It is needless to say that the tax audit assignment should be in
accordance with the Standard on Quality Control (SQC) 1: Quality
Control for Firms that Perform Audits and Reviews of Historical
Financial Information, and Other Assurance and Related Services
Engagements.