The European Insurance and Occupational Pensions Authority plans to release an updated Tool for Undertakings (T4U) related to XBRL reporting under Solvency II in October 2016.
With the development of the T4U, EIOPA aims to assist small and medium sized companies in creating, editing and validating XBRL documents. The T4U enables companies without the relevant knowledge and resources to perform a basic implementation in XBRL of Solvency II harmonised quantitative reporting.
The aim of this final update is to support the first cycle of Solvency II reporting during the complete year 2016 and to give companies time to move to market solutions.
The release will be based on the version of the XBRL Taxonomy to be published on 15 July 2016. This version captures the amendments to the Solvency II delegated regulation that are linked to investments in infrastructure projects.
EIOPA will stop supporting the Tool for Undertakings in July 2017.
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