This is a listing of XBRL news from around the world. If you have news that you would like to share, please send it to us.
The XBRL Standards Board and the Rendering Working Group are pleased to announce the publication of the Recommendation of Version 1.1 of the Specification for Inline XBRL. Company filings using the existing version of the Specification for Inline XBRL have been successfully mandated in a number of countries and currently account for the production of over 3 million documents each year.
The Specification documents and conformance suite can be found at the links below or on the XII website at: http://xbrl.org/SpecRecommendations
The new features in this version of the specification will simplify tagging for existing users and provide further mechanisms to support requirements in new markets. With the exception of the features listed below, the specification remains unchanged semantically from version 1.0.
The new features are:
1. the addition of an extension mechanism, ix:continuation, for splitting text content within a document;
2. the addition of the ability to nest ix:nonFraction and ix:fraction elements; and
3. the addition of support for fact-explanatoryFact links, by replacing the existing mechanism for structuring footnotes with a one based on a new element, ix:relationship.
As a simplifying measure, the Rendering Working Group recommends that authorities mandating the use of Inline XBRL require the use of version 1.1 in place of version 1.0.
The XBRL Standards Board and the Formula Working Group are pleased to announce the approval of the Variables 1.0 specification to Recommendation. Based upon feedback from the community, the previous version was edited to provide clarity to the specification. There is no intended change in meaning to the previous version of the specification and the schema remains unchanged.
The Specification can be found directly at the link below or on the XII website at: http://xbrl.org/SpecRecommendations
The clarification changes in this version are listed below for the benefit of the authors and implementers:
1. 4.2. Added missing error code to be raised when @fallbackValue references fact or general variables: xbrlve:fallbackValueVariableReferenceNotAllowed
No change in meaning - the spec already expressed this requirement.
2. 3.2 Added new error code xbrlve:parameterCyclicDependencies to be raised when there are circular references between parameters.
New validation rule, though for practical reasons all implementations must have enforced this validation previously.
3. 3.2, 3.5.1 The @name of a parameter element may now be used as a global name to reference that parameter in expressions. The parameter may still be referenced by a QName specified on the relationship of the parameter to a resource that makes use of it. In case of clashes, QNames defined on the relationships take precedence over QNames defined on parameter elements. Accordingly this is a backwards compatible change for formula authors.
4. 3.4.1 - Clarification notes on how filter specifications may be defined and implemented. Key points:
- Filter specifications may be written in terms of implied XPath expressions and require equivalent XPath errors to be reported, however they are actually implemented.
- It is left to implementations to determine the order in which filters are applied. Formula authors writing expressions in filters must do so defensively so that they can handle any input - they may not rely upon other filters having been applied previously.
- Implementations of filters should reject facts that do not have the aspects that they are covering.
The XBRL Standards Board and the Units Registry Task Force are pleased to announce the publication of the Units Registry – Structure 1.0 specification to Recommendation. This specification describes the structure of the XBRL International Units Registry. The Units Registry is an online listing of units that have been identified as potentially having wide utility. The Registry contains structured information about their purpose, usage and any intended impact on XBRL instance validation.
The Specification can be found directly at the link below or on the XII website at: http://xbrl.org/SpecRecommendations
Further information about the Units Registry, including the registry itself, can be found on the XII website at: http://xbrl.org/units-registry
(20 November, Ankara) – XBRL International (XII) today announced that XBRL Turkey, a joint venture of key public and private organizations that will spearhead the implementation of XBRL for digital business reporting in the country, has been granted Jurisdiction status. The establishment of a Jurisdiction in Turkey represents the first step in an ambitious effort to utilize XBRL in Turkey for a wide range of corporate and regulatory reporting.
“XII is pleased to welcome XBRL Turkey as a member of the community of financial, business and technology leaders that are setting the standard for the transparent, efficient sharing of business information and data. Better data leads to better decisions, and we applaud the efforts of our new colleagues in this important and fast growing country,” said John Turner, CEO of XBRL International.
“We are very excited to have been able to gather together all the central organizations involved in business reporting to our consortium. Joint work to initiate XBRL reporting in Turkey has already started and the work is progressing at a good pace,” stated Mr. Seyit Ahmet Bas, Chairman, Public Oversight Accounting and Auditing Standards Authority and XBRL Turkey Jurisdiction Facilitator and Project Manager.
In Turkey, the XBRL-GL taxonomy is the legal format for electronic bookkeeping. In addition to electronic bookkeeping, the Ministry of Finance Tax Inspection Board is seeking to establish a continuous monitoring and auditing system and to create a paperless auditing environment for large scale taxpayers in Turkey. The Ministry also wants to create an instance document analyser to automate various auditing processes.
The Capital Markets Board (CMB) and Borsa Istanbul A.S. (Borsa Istanbul) aim to make XBRL reporting obligatory for the over 550 companies that currently use the Public Disclosure Platform for regulatory filings. Work has begun on an XBRL-TR-IFRS taxonomy, based on Borsa Istanbul and CMB translations.
Due to strong support for XBRL from multiple regulators in Turkey, XBRL Turkey will also initiate a Standard Business Reporting project, with taxonomy development to begin in January of 2014.
About XBRL International
XBRL International is a not-for-profit consortium of approximately 600 companies and agencies worldwide working together to build the XBRL language and promote and support its adoption. This collaborative effort began in 1998 and has produced a variety of specifications and taxonomies to support the goal of providing a standard, XML-based language for digitizing business information.
About XBRL Turkey
XBRL Turkey is currently comprised of key stakeholders from the regulatory, academic and business communities, including the Ministry of Finance, the Central Bank of Turkey, the Capital Markets Board, Borsa Istanbul A.S., Malatya İnönü University, Ankara University, the Banking Regulation and Supervision Agency, the Scientific and Technological Research Council of Turkey, Turkish Statistical Institute and PWC. Project oversight is with the Public Oversight Accounting and Auditing Standards Authority, which is working with the stakeholders to outline an XBRL roadmap for Standard Business Reporting.
21 November 2013 – XBRL International (XII) is pleased to announce the new members of its Board of Directors, elected by the ballot that followed the XII Member Assembly at its general meeting on November 18, 2013. Those elected will serve two year terms expiring at the end of 2015.
The XBRL International Board of Directors is comprised of representatives from National Jurisdictions, the Direct Member base, as well as at-large representatives.
“The entire XBRL community joins me in congratulating those elected to the Board of Directors. XBRL International will benefit from their leadership and expertise as we work together to help improve reporting and hence, decision making, at local, national, regional and global levels.” said XBRL International CEO John Turner.
Elected to two-year terms:
H.E. Mohammed Khalifa Al-Hadari– Deputy CEO, Securities and Commodities Authority, UAE
Organisational Direct Member Representative
Mr. Cees de Boer - Member of Executive Board, CFO and COO, Deloitte, Netherlands (re-elected)
Mr. Andreas Weller – Head of IT, European Banking Authority, London
(1 November 2013) - The Board of XBRL International, Inc. has appointed John Turner as interim CEO. Mr. Turner will lead the organization as it continues to enhance its Specifications for defining, publishing, exchanging and consuming financial performance information. His position is effective immediately.
Mr. Turner has previously acted as the Chair of the XSB, the XBRL peak standards-making body. He spent six years as the CEO of CoreFiling, a leading XBRL vendor, and prior to that led the XBRL team at KPMG International. He’s also well known as the leader of the first Regulatory Project to utilize the XBRL standard – launched in 2001 at the Australian Prudential Regulation Authority. Most recently he has been working as a consultant helping a wide range of software and service firms with strategy and product design.
“The organization is at an important stage in its development, with large numbers of regulators and governments worldwide relying on our standards in their data collection and analysis efforts. With a raft of new projects due to go live we need to redouble our efforts to ensure that our Specifications meet the needs of users,” said Arleen Thomas, XBRL International Board Chair, and Senior Vice President – Management and Accounting at the AICPA, “We’ve asked John Turner, a long-time member of the XBRL community, to join us as CEO on an interim basis. He will be leading a number of key initiatives for us with the strong support of our Board. His mix of skills and experience means that he comes to us with a unique and very welcome perspective.”
Mr. Turner said, “The goals of the XBRL consortium are vitally important to enhancing transparency, accuracy and access to financial and performance information across the world. I’m honored to have been asked to take on this role at this time and thank the Board for their confidence and kind welcome. I look forward to working with the XBRL community in further improving the standards and adoption that is happening worldwide.”
After six years of service as CEO, Mr. Anthony Fragnito has resigned to pursue other interests.
“The Board is grateful to Tony Fragnito for the very considerable efforts that he has made in assisting XBRL International and we wish him well in his future endeavors,” Thomas added.
(23 October) -- XBRL International is pleased to announce that the XBRL Standards Board, at the request of the Base Spec Working Group, has approved the Public Working Draft (PWD) of Extensible Enumerations 1.0.
The Extensible Enumerations specification allows domain member networks, previously used for dimensions, to constrain the allowed values for primary reporting concepts, enabling taxonomy authors to define extensible enumerations with multi-language labels.
Feedback is requested and should be sent to email@example.com.
The next XII Member Assembly meeting will be held on 18 November at 1:00 PM UTC via webinar/conference call. You MUST be an XII Direct Member or member of a Jurisdiction to attend. if you are unsure of your membership status, please contact firstname.lastname@example.org.
Member Assembly meetings provide an important opportunity to interact with XII leadership and staff, hear reports and engage in consortium business.
Members who have not received a registration link, please contact email@example.com
The primary agenda items will be:
• Market/Technical Update
• Reports from XII Boards and Committees
• Approval of the FYE2013 Audited Financials
• 2014 Board Election
The XII Nominations Committee is hosting a moderated webinar to introduce members to the candidates for the 2014 Board of Directors. This “meet-the-candidates” event will afford XII members the opportunity to learn about each of the candidates by hearing from each of them via a brief statement and ssking moderated questions of the 2014 candidates prior to the election
Where/When: Wednesday, 30 October 2013 at 1200 PM UTC via webinar and conference call. For those unable to attend the event, a recording of the meeting will be made available.
You Must be a Member to Attend this Event!!
Not a Member? Not a Problem.
Contact us at firstname.lastname@example.org.
(2 October 2013) -- The XII Best Practices Board (BPB) is creating an Implementation Guidance Task Force (IGTF) with the objective of capturing, developing and creating that guidance along with materials that will inform and guide those considering the implementation of XBRL solutions. Click here for more information.
The Implementation Guidance Task Force will consist of members with practical experience in recommending or implementing XBRL reporting solutions. We welcome input from all industry sectors and geographical regions. ITGF membership is welcomed from interested parties who are not currently members of XII’s Best Practices or other boards, but part of the IGTF membership will come from BPB.
Members will be expected to actively contribute to the planning and creation of the implementation guidance materials. This may include outreach to recognised industry contributors and organisations.
There will be regular update calls which members will be expected to attend.
Please indicate your interest in participating in the Implementation Guidance Task Force by e-mailing email@example.com no later than Friday 25th October 2013.