XBRL News
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XBRL NewsThis 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. |
UK to make XBRL mandatory for company tax filings from 2010
UK to make XBRL mandatory for company tax filings from 2010
March 22, 2006
The UK Government said that it plans to make the use of XBRL mandatory for all company tax returns due after March 2010. The step, announced as part of the annual UK budget, is part of actions to increase the use of UK Revenue and Customs (HMRC) online services, and bring cost savings to both taxpayers and government. Company tax returns comprise both full financial accounts and corporation tax computations.
UK plan for mandatory use of XBRL is "sensible and prudent"
UK plan for mandatory use of XBRL is "sensible and prudent"
March 24, 2006
The UK government’s proposal to make the use of XBRL mandatory for company tax filing from March 2010 is a sensible and prudent step which will bring benefits for both companies and government, the UK arm of the XBRL International consortium said.
US Congressional committee hears testimony on XBRL
US Congressional committee hears testimony on XBRL
March 29, 2006
A US Congressional subcommittee on Capital Markets, which is aiming to foster transparency in financial reporting, heard testimony on the benefits of XBRL from leading members of the accounting and securities industries. A number of speakers explained the role of XBRL in supporting transparency at a committee hearing to review initiatives by regulators and industry. The link above provides transcripts of their testimony.
Seventeen companies join SEC pilot programme on XBRL
Seventeen companies join SEC pilot programme on XBRL
March 29, 2006
The US Securities and Exchange Commission said 17 companies have already agreed to participate in a new program to test the use of XBRL for financial reporting, compared with nine under an initiative launched last year. The companies will help explore how XBRL can improve the financial reporting process, provide feedback to the SEC and enable investors and analysts to assess new techniques for analyzing interactive data.
US Accountants leader testifies to Congress on XBRL benefits
US Accountants leader testifies to Congress on XBRL benefits
March 30, 2006
SmartPros: Barry Melancon, president and CEO of the American Institute of Certified Public Accountants, testified before Congress on the benefits of XBRL in fostering transparency and providing other enhancements to financial reporting.
XBRL moves forward in Latin America
XBRL moves forward in Latin America
May 2, 2006
XBRL has moved forward in Latin America with a first XBRL Congress which attracted 250 participants from a range of South American countries, including senior business figures representing stock exchanges and central banks. The congress, from 19-21 April 2006 in Buenos Aires, focussed on explaining and promoting the XBRL standard, using experience in Spain as an important example. Speakers included senior figures from the central bank of Spain, the Spanish Stock Exchange, the central bank of Argentina, the stock exchange of Buenos Aires and accountants associations.
XBRL International announces formation of Standards Board
XBRL International announces formation of Standards Board
April 3, 2006
An XBRL International Standards Board is being formed to ensure that the technical materials produced by the consortium are of the highest quality and consistency, as well as remaining stable. It will be responsible for raising the level of openness and formality of the XBRL International standards setting process and for actively managing the process in order to improve operability and encourage adoption. XBRL International called for nominations to the new board and said Michael Ohata of Microsoft would be the chair.
XBRL forms Standards Board to strengthen its technical output
XBRL forms Standards Board to strengthen its technical output
April 4, 2006
XBRL International said that it is forming a Standards Board (XSB) to strengthen the quality of its technical materials and manage their production more actively in order to accelerate adoption of XBRL around the world.
XBRL project wins Dutch National Innovation prize
XBRL project wins Dutch National Innovation prize
April 10, 2006
A Dutch project to introduce the use of XBRL for a range of financial reporting has won the National Innovation prize for projects in the public sector. The Dutch Taxonomy Project came first out of 175 projects put forward for the prize.
United Arab Emirates sets up first XBRL Jurisdiction in Middle East
United Arab Emirates sets up first XBRL Jurisdiction in Middle East
April 18, 2006
The United Arab Emirates has set up a provisional XBRL jurisdiction under the sponsorship of the Abu Dhabi Securities Market (ADSM). This is the first XBRL jurisdiction to be set up in the Middle East. The step was approved by the XBRL International Steering Committee in recognition of the UAE’s efforts and aims to advance XBRL. The new jurisdiction expects to adopt the IFRS XBRL taxonomy to support financial reporting in XBRL under international standards by UAE companies.
