Colombia bids farewell to STORM as XBRL takes the lead
At the XI Encuentro Contable & Tributario on 29 January, Colombia’s Superintendence of Companies (Supersociedades) announced a major shift in financial reporting: STORM is out, and XBRL is in. Soon, all corporate reports – both financial and non-financial – will need to be filed in XBRL format, bringing Colombia in line with international best practices.
