Cost is no barrier to even small companies preparing financial statements with the global digital standard for business reporting, as the average annual cost of XBRL preparation has dropped by 45% over the last three years in the US. Recognizing that computer-readable reports make financial information easier for regulators and investors to analyse, the US […]
In a guest article on the XBRL International Blog this week, Mohini Singh summarises aspects of the CFA Institute’s submission to the European Commission’s ‘Fitness Check on the EU Framework for Public Reporting by Companies’ consultation. The Institute urges policymakers to ‘see the power of XBRL in facilitating analysis for investment decision-making,’ arguing that ‘lowering the barriers in […]
The Ukrainian National Finance Service has begun discussing its plans to enhance Ukranian regulatory reporting with XBRL. This is part of a wider effort to enhance transparency within the Ukranian finance sector, initially within non-bank finance. The regulator has started by holding introductory seminars with staff and market participants to explain how the new mandate […]
Well done to Indonesia’s PT Ebiz Cipta Solusi, the latest software firm to achieve XBRL Certified Software™ status, for its Maleo Sipp XBRL report creation package. This means that it has been validated as passing the rigorous conformance suites that accompany the XBRL specifications, ensuring consistent interoperability between products. You can find full details of the […]
“XBRL should be on everyone’s radar.” So says Ken Krupa, CTO of MarkLogic, a privately held “unicorn” big data analytics firm in a blog post this week. “Corporate reporting cannot remain primarily a paper-based* exercise in a digital age. As annual reports are a key part of any company’s understanding of its financial situation, moving […]
Do read the interview with Scott Bauguess, Deputy Director and Deputy Chief Economist of the SEC’s Division of Economic and Risk Analysis (DERA) this week from Merrill Corp. Spurred on by what he considered to be a persistent lack of interest and understanding among certain market participants about the importance of standardised data collection and dissemination, […]
ABZ Reporting became the latest company to gain XBRL Certified Software™ status for their product. ABZ’s ABRA Transformation Engine has been certified as XBRL report consumption software, meaning that it has been validated as passing the rigorous conformance suites that accompany the XBRL specifications, ensuring consistent interoperability between products. You can find full details of […]
The Business Learning Institute runs a terrific podcast for accounting and business professionals, and recently interviewed XBRL International CEO John Turner. Spend a few minutes to hear how the XBRL standard is being used around the world, some upcoming trends and some food for thought. Listen in from around the 5 min 30 second mark […]
Regulator moves to require use of the Inline XBRL standard for all public companies and investment funds listed on US markets. Move will enhance flow of decision-useful information to investors of all kinds, will lower costs and simplify external reporting over time.
Highlights from this week’s XBRL Asia Round Table included updates from the following regulators: The Malaysian Business Registrar (SSM) is rolling out the Malaysian Business Reporting System (MBRS) later this year. The system initially allows the submission of annual returns, financial statements and exemption statements, all in XBRL format. This is a phased mandate that will […]
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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.
