Automating IFRS Reporting with Scrooge Analytics

Lime Systems has developed and implemented the IFRS Reporting solution within the Scrooge Analytics platform, helping financial institutions automate the preparation of financial statements in accordance with the IFRS Taxonomy.

The solution has already been deployed in multiple banks, providing a structured and configurable environment for calculating IFRS reporting indicators based on each institution’s accounting methodology.

Built on analytical source data, the platform supports the calculation of IFRS reporting forms using information from core banking systems and other enterprise applications. To extend the reporting data model, Scrooge Analytics can integrate with risk management systems as well as fixed and intangible asset accounting solutions.

More than 30 IFRS reporting forms have been automated, either fully or partially, depending on the reporting requirements and available source data.

The IFRS Reporting solution enables financial institutions to:

• accelerate the preparation of IFRS financial statements while reducing manual effort and reporting errors;
• refine reporting data and incorporate additional accounting adjustments directly within Scrooge Analytics when required;
• trace, validate, and analyse calculated reporting indicators throughout the reporting process, supporting both internal review and external audit procedures;
• preserve historical reporting data for comparison, analysis, and subsequent reporting cycles.

Calculated reporting indicators can be exported to XBRL conversion tools, including M.E.Doc and the iXBRL Report application. Integration with other XBRL conversion environments can also be supported where documented APIs are available.

A key advantage of the solution is its platform independence. Source data can be obtained from a wide range of enterprise systems — including core banking platforms, CRM systems, and other business applications — allowing the IFRS Reporting solution to be implemented regardless of the institution’s existing technology landscape.

Scrooge Analytics is supported by Lime Systems specialists with practical experience in IFRS reporting and financial reporting methodology, helping customers maintain compliance as IFRS Taxonomy requirements evolve over time.