Major economies around the world are increasingly adopting XBRL based digital reporting – is it time for Australia and New Zealand to join them? A new paper from Chartered Accountants of Australia and New Zealand provides a detailed analysis of the need for reform in reporting and the achievements, as well as some of the issues associated with […]
The Open Information Model (OIM) specifications, having been through a multi-year development process, are almost ready to be published publicly as Candidate Recommendations. But why has it taken so long? Standards need to be stable – especially when, as with XBRL, they are primarily adopted by risk-averse regulators and policy makers. Specifications also have a […]
XBRL International strongly encourages all software providers to get their software certified annually in order to guarantee that their product is fit-for-purpose. XBRL Certified Software™ has been tested against a rigorous and objective set of conformance suites that are produced alongside the XBRL specifications. Software certification is crucial to ensuring interoperability. An XBRL or iXBRL […]
Toppan Merrill’s Dimensions magazine recently spoke with Scott Bauguess, who drew on his 12 years in various roles at the US Securities and Exchange Commission (SEC) to provide insight into the SEC’s use of XBRL. Bauguess has spanned a number of roles at the SEC, most recently as the Deputy Director and Deputy Chief Economist in the […]
This Tuesday marked twenty years since XBRL first went public with a draft specification, a taxonomy, and a vision of vastly improved business transparency with benefits across the entire business reporting supply chain. Today, hundreds of implementations around the world benefit from the freely licensed XBRL standard – with an interactive map of global projects available […]
The Royal Netherlands Institute of Chartered Accountants (NBA) has issued an update that makes a number of changes to the Statement Generator and HRA 3. It is now possible to generate XBRL instances of the audit report for the financial statements of insurers, banks, and pension funds. Read more and see other planned updates here (in […]
We’re delighted to announce that a number of software products have met the stringent criteria required to gain XBRL Certified Software status. Congratulations to Reportix, ABZ Reporting and Workiva respectively on the certification of the following products: CellStore by Reportix, a drop-in database solution for XBRL and iXBRL which helps you take control of your data management, […]
The US Federal Energy Regulatory Commission (FERC), which switched to XBRL for a number of utilities reporting forms last year, has published a rule proposal to revise transmission incentive policies and extend XBRL to Form 730. In the proposal FERC notes that further adopting XBRL would allow the reporting of comprehensive, consistent, interoperable data, and would […]
ThinkTwenty20’s recent spring issue focused on regulatory reporting, drawing from a number of interesting perspectives in the field. Mike Willis, the US SEC’s Assistant Director of the Office of Structured Disclosures, highlighted the importance of standardisation in all supply chains – from the railways, to barcodes, to business information, and now, for data that will enable […]
XBRL US has submitted a comment letter expressing support for the SEC proposal Disclosure of Payments by Resource Extraction Issuers, File Number S7-29-14. The proposal would require machine-readable XBRL for the disclosure of payments by resource extraction firms. It is designed to provide more information to global commodity markets, and to hold governments accountable for the […]
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XBRL International is a global not for profit operating in the public interest. Our purpose is to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting.
