RESULTS FROM IXBRL SURVEY CARRIED OUT BY DIGITA AT HMRC ROAD-SHOW ON JUNE 30TH.
IXBRL TAGGING OF DATA BECOMES COMPULSORY IN APRIL 2011, PLEASE INDICATE YOUR LEVEL OF AWARENESS PRIOR TO ATTENDING THIS HMRC ROAD-SHOW
62% aware and up to date
38% aware but not up to date
ARE YOU CONCERNED BY THE COST IMPLICATIONS INVOLVED IN SWITCHING TO IXBRL?
13% very concerned
69% concerned
6% partially concerned
12% not concerned
HOW MUCH DO YOU ESTIMATE YOUR FIRM’S PREPARATIONS WILL COST TO ENSURE YOU ARE IXBRL READY?
25% think up to £1,000
12% think between £1,000 and £5,000
13% think between £5,000 and £10,000
50% think over £10,000
WILL YOU BE MANAGING THE IXBRL CONVERGENCE INTERNALLY OR WILL YOU LOOK TO OUTSOURCE THIS?
75% will manage internally
25% will outsource
HAVE YOU APPOINTED AN IXBRL ‘EXPERT’ TO MANAGE THE PROCESS?
65% Yes