We expect to outsource conversion of our 2010 statutory accounts to iXBRL and then use our existing tax compliance software to produce the tax returns in iXBRL format. Our view is that the market for iXBRL accounts preparation software is likely to mature over the next two to three years and therefore it is currently too early to look to invest in a specific solution. Also the changes to UK GAAP currently under discussion mean that now does not seem the right time to be making a significant investment in buying and configuring software when our needs are likely to change in the foreseeable future. We are intending to re-evaluate the position next year.
Nick Watson, Group Tax Reporting Manager, Reed Elsevier plc
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iXBRL: ‘the market is likely to mature’
We expect to outsource conversion of our 2010 statutory accounts to iXBRL and then use our existing tax compliance software to produce the tax returns in iXBRL format. Our view is that the market for iXBRL accounts preparation software is likely to mature over the next two to three years and therefore it is currently too early to look to invest in a specific solution. Also the changes to UK GAAP currently under discussion mean that now does not seem the right time to be making a significant investment in buying and configuring software when our needs are likely to change in the foreseeable future. We are intending to re-evaluate the position next year.
Nick Watson, Group Tax Reporting Manager, Reed Elsevier plc
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