XBRL software for Chile’s CMF
Your financial statements in XBRL, ready for the CMF.
Siopea is the software accounting and finance teams use to prepare the XBRL of the financial statements they file with Chile’s CMF (Financial Market Commission). Loading, validation and file generation in one place: everyone works on their part and the report is reviewed before the filing date.
CMF format
The same tables and columns the CMF requires, on screen and in Excel.
Validation first
CMF rules are checked before you file, with each error shown in its cell.
Teamwork
Roles per company, assigned sections and a history of every change.
If you prepare XBRL today
Does any of this sound familiar?
“Excel files go back and forth by email and nobody knows which one is the latest.”
With Siopea: the whole team works on the same report, each person in their own section, and every change is recorded.
“Validation errors show up on filing day.”
With Siopea: CMF rules are checked as you enter data, with each difference shown in its cell.
“A figure changed and we don’t know who touched it or why.”
With Siopea: you see who changed each value, when, the previous value and whether it came from the screen or from Excel.
How it works
How to prepare XBRL for the CMF, in three steps
01
Enter data on screen or in Excel
Each note with its tables and columns, just like the CMF’s. Type into the table or use Excel: totals are calculated automatically and the prior period is brought in with one click.
02
Validate against CMF rules before you file
Siopea checks the taxonomy calculations and the CMF validation rules, and shows you each difference in its cell. If there are errors, the report can’t be filed.
03
Generate the XBRL and a readable version
The XBRL is ready to file with the CMF, and the iXBRL view shows the financial statements in their final format to review them or share them as a PDF.
Teamwork
The whole team on the same report, without overwriting each other
Assign each sheet, table or the text notes to a person. Everyone enters their part and marks it “Ready for review”; the owner reviews it, sends it back with a comment or closes the section.
One role per person in each company
Administrator
Everything the owner can do, plus inviting people and setting their roles.
Owner
Creates reports, enters data, validates, files and downloads the XBRL.
Contributor
Enters data on screen or with Excel and validates. Can’t create, delete or file.
Viewer
Sees the reports and downloads the Excel and iXBRL files. Can’t change anything.
Every change is recorded
Who changed each value, when, the previous and new value, and whether it came from the screen, from Excel or from a calculation. If two people change the same value, nobody overwrites the other’s work.
Who it’s for
Who Siopea is for
Siopea is for accounting and finance teams that file their financial statements in XBRL with Chile’s CMF, including local subsidiaries of international groups. It works for a company preparing its own report and for firms preparing reports for several companies, because each person has a different role in each company.
Supervised companies
The CMF’s CL-CI taxonomy.
Reporting entities
The CMF’s CL-EI taxonomy.
Consultants and advisors
They prepare the XBRL for several companies, each with its own taxonomy.
Insurance companies
The CMF’s insurance taxonomy.
Do you file with another CMF taxonomy? Tell us which one.
Why Siopea
Fewer loose files, no last-minute errors
Built for the CMF
Uses each year’s official taxonomy and presents the notes with the same tables as the CMF.
No surprises when you file
CMF rules are checked before filing, with each error shown in its cell along with the difference.
Your team, organized
Roles per company, assigned sections, review before filing and email notifications.
Control and traceability
Each company sees only its own data, every change is recorded and access supports two-factor authentication.
Free
XBRL Viewer
Open the XBRL any company files with the CMF, view it as financial statements and download it in Excel. With a free account, we email you a link to use it every month.
More than XBRL for the CMF
One software for all your regulatory reports
On-screen or Excel data entry, validation before filing, teamwork and change history are useful for much more than one report.
Every CMF taxonomy
Companies, reporting entities, banking and insurance holdings, family allowance funds (cajas de compensación): we enable yours.
Sustainability reports
Integrated annual report (NCG 461) and IFRS S1 and S2 (NCG 519), with each area entering its own section.
Other countries
Colombia, Peru and Mexico: we configure your country’s regulator.
Custom reports
Subsidiary consolidation and forms for banks, pension funds or the tax authority, on the same entry, review and close workflow.
FAQ
Frequently asked questions about XBRL for the CMF
What is Siopea?
Siopea is software for preparing the XBRL of the financial statements filed with Chile’s CMF. It brings together data entry, validation against CMF rules and XBRL file generation in one place.
Can XBRL data be entered from Excel?
Yes, each note can be entered on screen or with Excel, with the same tables and columns the CMF requires. Totals are calculated automatically and the prior period is brought in with one click.
How is the XBRL validated before filing it with the CMF?
Siopea checks the taxonomy calculations and the CMF validation rules before filing, and shows each error in its cell, with the reported figure, the expected figure and the difference.
What happens if the report has errors?
If the report has validation errors, Siopea won’t let you file it. Each difference is corrected in its cell first.
Which taxonomy does Siopea use?
Siopea currently works with the CMF’s CL-CI and CL-EI taxonomies, in each year’s official version, and presents the notes with the same tables as the CMF. We also enable the other CMF taxonomies, such as the insurance one.
Can several people work on the same report?
Yes, each person enters the section assigned to them. What another person is responsible for is shaded and can’t be changed, and every change is recorded with who, when and the previous value.
Does Siopea also generate a readable version?
Yes, in addition to the XBRL, Siopea generates the iXBRL view, which shows the financial statements in their final format to review them or share them as a PDF.
Before you decide
What finance teams ask us before switching
“We already do it in Excel.”
You don’t have to give it up: each note can be loaded from Excel with the same CMF tables and columns. Siopea adds what Excel doesn’t have: validation before filing, teamwork and change history.
“Switching tools in the middle of a close is risky.”
Your team can file its first report in 2 days: we train you and help you load your current data from Excel or PDF. Loading the data takes about 4 hours and validations another 2 or 3 hours.
“Where is our data stored? Is it secure?”
Each company sees only its own data, each person has a role with defined permissions, every change is recorded and access supports two-factor authentication. Once finished, the XBRL is backed up on our server, and also at the CMF, which publishes it.
“What if the CMF changes the taxonomy?”
The CMF usually publishes a new taxonomy every year, although it can change it at any time. When it’s released, we have it ready in Siopea in about 3 days.
“What if we miss an error?”
If there are validation errors, Siopea won’t let you file the report. Each difference appears in its cell, with the reported figure, the expected figure and the difference.
“How much does it cost?”
Pricing is per company, billed annually. We’ll give you the price in the demo, based on how many companies you file for.
Want to see it in action?
In a 30 to 60 minute video call, we show you with sample data how your team enters, validates and generates the XBRL for the CMF. It can often be scheduled the same day.
Do you file other regulatory reports? Tell us which ones
Outside Chile
Do you file in Colombia, Peru or Mexico? We configure your country’s regulator: Superfinanciera and Supersociedades, SMV or CNBV.