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. |
Taxonomy Versioning Requirements issued as public working draft
Taxonomy Versioning Requirements issued as public working draft
February 28, 2006
XBRL International has issued a Taxonomy Versioning Requirements document as a public working draft. This describes the business requirements for controlling the process of creating a new version of an existing taxonomy. Among other things, taxonomy authors require standard means for communicating changes between versions.
IASC Foundation launches new XBRL website
IASC Foundation launches new XBRL website
February 28, 2006
The IASC Foundation (IASCF) has launched a new website at www.iasb.org/xbrl to showcase the pioneering work of the IASC Foundation’s XBRL team. It said the website was an integral tool for keeping interested parties aware of all recent XBRL developments related to International Accounting Standards.
Korea becomes established XBRL jurisdiction
Korea becomes established XBRL jurisdiction
February 22, 2006
Korea has been approved as an established XBRL jurisdiction by the XBRL International Steering Committee following significant progress in implementation of XBRL and recruitment of members. It now has some 27 members drawn from leading Korean companies and played a key role in encouraging the country’s financial regulator, the Financial Supervisory Service (FSS), to adopt XBRL for regulatory reporting.
BRIL becomes first Irish company to publish results in XBRL
BRIL becomes first Irish company to publish results in XBRL
February 17, 2006
Business Reporting Ireland Limited (BRIL), a not-for-profit company established to promote XBRL in Ireland, has released its financial statements for the period ended 31 December 2004 in XBRL format. It is the first company incorporated in Ireland to publish its accounts in XBRL.
US SEC extends deadline for joining XBRL test filing group
US SEC extends deadline for joining XBRL test filing group
February 13, 2006
The SEC has extended the deadline for companies to join its XBRL test filing group by four weeks until 10 March following requests for more time from potential participants. Several companies have already signed up to participate but numerous members of the filing community asked for more time to investigate and prepare for participation.
Belgian National Bank publishes taxonomy for company accounts
Belgian National Bank publishes taxonomy for company accounts
February 10, 2006
The National Bank of Belgium has published a taxonomy which will be used for the filing of accounts of commercial and industrial companies from April 2007. Some 290,000 companies will be using the XBRL system.
Bank of Japan starts live use of XBRL for data gathering
Bank of Japan starts live use of XBRL for data gathering
February 8, 2006
An XBRL system at the Bank of Japan for gathering data from financial institutions has gone into live use. The system, intended to improve the efficiency of data gathering, is initially collecting Balance Sheet data. Its scope will gradually expand. A spokesman said some 500 institutions are reporting through the system.
US SEC opens door for use of XBRL by EDGAR database
US SEC opens door for use of XBRL by EDGAR database
February 2, 2006
AccountingWEB.com: In seeking a new manager for its Electronic Data Gathering, Analysis, and Retrieval (EDGAR) database, the Securities and Exchange Commission has widely opened the door for that system to use XBRL.
Filing of accounts in XBRL begins in UK
Filing of accounts in XBRL begins in UK
February 1, 2006
Companies House, the official body which receives company financial statements in the UK, has started receiving accounts in XBRL. Its new system is handling statements for audit exempt companies. After gaining experience of XBRL with this project for small company filing, both Companies House and the UK Revenue and Customs are looking to expand the use of filing in XBRL over the next year.
US regulator reports major success from XBRL banking project
US regulator reports major success from XBRL banking project
January 31, 2006
The use of XBRL for regulatory bank reporting in the US has achieved major success, according to the FFIEC (Federal Financial Institutions Examination Council). The FFIEC said its XBRL-based solution, which went live in October had achieved measurable benefits, with an increase from 66% to 95% in data cleanliness, 70% to 100% in accuracy, weeks to hours in timeliness and a 15% rise in the productivity of analysts.
