Since the introduction of the IORP II Directive by EIOPA, there has been an urgent demand from pension funds for a more efficient, faster and fault-tolerant reporting process. The biggest challenge in the preparation of quarterly and annual reports is the consolidation of correct and complete data from external and internal systems and parties.
Data errors must be identified as early as possible and there must be transparency about who processed which data and when – both in the entities reporting the XBRL to the regulator and on the part of all supporting companies.
To save time and gain efficiency, a powerful system must therefore be able to translate all EIOPA validations into a user-friendly output so that validation errors can be resolved fast, and files correctly created, whilst maintaining full audit trails.
If you have any questions on the subject, feel free to contact our IORP II expert Joris van Dam at any time.
We will also show you how you can optimise your reporting process with the help of the cleversoft IORP II service in a webinar on 14 March, to which we cordially invite you:
IORP II – efficient pension fund reporting with cleversoft.
on Tuesday, 14 March 2023, from 10:00 to 11:00 CET.
Topics of the webinar will include:
– Validation and correction of IORP II data.
– Transparent and easy tracking of changes
– Efficient coordination of inputs from different stakeholders
– Audit trails and history
– Conversion of data into the required XBRL format
– Taxonomy updates to the latest regulatory status
Save your spot and register today by clicking here
We are looking forward to your participation.