Regulatory/Government Special Interest Group
The XBRL International Government/Regulatory Special Interest Group provides council to the XII Board of Directors regarding implications of strategies toward Extensible Business Reporting Language (XBRL) development and XII support of market adoption from the regulatory community. The vision for the Government/Regulatory SIG includes building a strong, vibrant network of executives from government/regulatory organizations which have a vested interest in the success of XBRL and XII. The composition of the SIG should reflect balanced geographic representation and be composed of executives with the authority to represent an official position related to XBRL on behalf of their employer.
Primary functions of the Government/Regulatory SIG
- Give feedback on and challenge the organization’s priorities and planning to ensure successful regulatory adoption, expanded implementation and ongoing community commitment to XBRL
- Provide feedback on the strategic impacts of proposed standards changes on current XBRL dependent solutions
- Advise the Board on how the organization might better meet the expectations of regulatory organizations
2. Strengthen and extend the network of executives in government/regulatory organizations familiar with XBRL
- Identify key government/regulatory partnerships and stakeholders
- Outreach to the government/regulatory community to provide balanced, broad based positions
- Advise leadership on how best to develop and serve government/regulatory stakeholders
The Government/Regulatory SIG is expected to meet quarterly, with face to face meetings held during the XII International conferences. Meetings will typically last between 4 and 5 hours when in person and 1-2 hours by conference call. The group will recommend its own members, expected to be between 10 - 15 executives, and have these members approved by the Board. The SIG will select a Chair of the group from its membership who will also be approved by the Board. The Chair will be asked to report to the Board regularly. This SIG will be supported by the XII staff as requested.
Limitations of Liability and Indemnifications
As the Government/Regulatory SIG serves in an advisory capacity the XBRL International Inc. Bylaws do not include language referring to indemnification. Also important to note that this group does not have any specific approval accountabilities and as such does not carry any accountability made by any of the other bodies engaged in XBRL or XII.
Outcomes and Outputs
The following is a suggested list of outcomes and outputs, which will be further clarified and conformed once the membership and leadership has been agreed.
The strategies and evolution of XBRL and XII continue to support the dependant processes put in place by government/regulators.
XII are is well informed of the impacts, both positive and negative of the planned evolution of XBRL.
Government/Regulators are better informed of the XBRL/XII plans and strategies as they emerge.
The views and concerns of the users of XBRL dependent services sponsored or developed by government/regulators will be represented by the SIG.
The SIG will produce the following outputs:
Documented advice that represents the views of the group, including views that sit outside of the consensus of the group.
Minutes of the meetings, both face to face and teleconferences in a way that they can be shared with the broader XBRL community.
Formal written reports to the XBRL Board of Directors.