iXBRL HMRC Survey Results

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