How to view an iXBRL file using Arelle
Lloyd's new "streamlined financial reporting" framework requires managing agents to submit iXBRL files to the Lloyd's portal. But how can you view the data behind the webpage to make sure it's been tagged correctly? This article walks you through how to use a free, open-source tool to do just that.
As a reminder, an iXBRL file (for Syndicate Accounts) is just an HTML file (i.e. a web page format) that contains tags around key pieces of information. These tags aren’t visible to people viewing the file but Lloyd’s can read these tags in order to extract the key information. So the iXBRL file just looks like your Syndicate Accounts but in a web format.
Your chosen iXBRL tagging provider or software (which could be Lloyd’s XBRL Reporter from FS Assist) will produce an HTML file which is the iXBRL file that needs to be uploaded to the Lloyd’s portal.
Arelle is a free, open-source XBRL and iXBRL data viewer. For iXBRL the data that Arelle shows you isn’t in a particularly friendly format, but there’s a neat plug-in that will render the file for you in your browser and allow you to look around.
How to install and set up Arelle
Step 1: Download and install Arelle
Go to https://arelle.org/arelle/pub/ and download the version appropriate for your computer. For most Windows users you will need to get the “Windows x64 installer”. Run the installer and follow the on-screen instructions.
Step 2: Add the Lloyd’s taxonomy package
Download this version of the Lloyd’s taxonomy. It’s the same as the one published on the Lloyd’s website but with a few files removed that Arelle doesn’t like being there.
Open Arelle and go to Help → Manage packages:
Click the Locally button on the left of the pop-up window, browse to the taxonomy zip file you just downloaded and click Open.
Click Close on the pop-up window.
Step 3: Check internet options in Arelle
Click Tools → Internet and make sure that Work offline is not ticked.
Step 4: Install the iXBRL Viewer plug-in
Go to Help → Manage plug-ins:
Click the Select button on the left of the pop-up window.
At the top of the list of plug-ins you should see ixbrl-viewer. Select this and then click OK.
Now you’re ready to open your iXBRL file!
How to open an iXBRL file and look around
To open an iXBRL file, either go to File → Open File…, press the first icon on the toolbar or use the CTRL+O keyboard shortcut:
Once you have chosen your file and clicked Open the taxonomy and file will load. Be patient because it takes a few seconds and there’s no progress bar. Eventually your web browser will automatically open and show the file.
You can now click on the data within the page and it will display the iXBRL tagging information on the right-hand side:
There are a few useful tools you can select on the right-hand side, such as Highlight XBRL Elements, but we’ll leave you to click around and have a play with these on your own.
Enjoy looking around your file!