At the XBRL US/CFA Institute Investor Forum held this week, newly installed XBRL International Chairman, Wes Bricker, gave a keynote address. It focussed on the use of SEC XBRL data, its strengths, weaknesses and next steps.
When a taxonomy is published it generally comes with supporting documents that help the taxonomy’s implementation – but what exactly should be published alongside a taxonomy? New draft guidance published this week indicates best practice in basic supporting documentation.
Professor Robert Eccles has been hugely influential in the modernisation of corporate reporting, with a focus on many aspects of the way that reporting should work to serve both investors and society more broadly.
One of the most powerful features of XBRL is the ability to embed business validation rules into a taxonomy in the form of XBRL Formula Rules. By embedding validation rules, the taxonomy becomes a single, standardised mechanism for defining an XBRL reporting requirement, complete with translatable labels, datatype definitions, links to authoritative reference materials and […]
In the context of a pandemic, it makes sense to ensure that as much activity as possible is done digitally. Last week saw the unveiling of a new initiative from Everbright Bank: digital bank receipts with embedded XBRL data for reuse and analysis.
As data digitisation and XBRL reporting continue to expand worldwide, it’s crucial that companies are reporting accurate, high-quality data. Wes Bricker, Vice Chair of XBRL International’s Board of Directors and PwC Vice Chair, US and Mexico Assurance Leader, recently wrote an article for FEI highlighting the importance of accurate XBRL tagging.
With the idea that knowledge is transformative sitting at the heart of most educational institutions, it is perhaps unsurprising that a college is currently at the vanguard of structured municipal reporting in the US.
Qatar is set to shortly join the many markets around the world that mandate the XBRL standard and benefit from increased data transparency, accuracy and utility.
Professor Monika Kovarova-Simecek, Academic Director Economic and Financial Communications at the St. Pölten University of Applied Sciences, recently shared her thoughts on XBRL’s role in the digital transformation of financial reporting.
XBRL has a number of exciting projects in the pipeline – not least the expansion of structured, machine-readable data to all of Europe with next year’s ESEF mandate. However, sometimes it’s worth looking backwards to take note of successful implementations that have been humming along for some time now.
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