The first electronic financial statement in Finland has been entered in the Finnish Trade Register

An electronic financial statement has been entered in the Trade Register at the Finnish Patent and Registration Office (PRH) for the first time.

The first electronic financial statement was submitted to the Trade Register by the software company Fennoa Ltd and registered on 25 April 2019. Fennoa’s financial statement is in IXBRL format.

The PRH has built an IXBRL interface for the submission of electronic financial statements to the Trade Register.

Software companies can create accounting programs using the IXBRL interface, and accounting firms will be able to use the programs to submit financial statements easily to the Trade Register.

The PRH has produced the interface in collaboration with the Association of Finnish Accounting Firms.

What is IXBRL?

IXBRL (Inline eXtensible Business Reporting Language) makes it possible to create, handle, process and visualise business reports electronically.

Financial statements in IXBRL format display the information in a uniform manner according to standards and classifications. This reduces, for example, the risk of essential information being left out of the financial statements.

IXBRL has already been introduced for financial statements in a number of countries, including Sweden.

For more information please contact:

Mr Franck Mertens
Project Manager
Finnish Patent and Registration Office (PRH)
Tel. +358 29 509 5212

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Latest update 29.04.2019