Sixty percent of financial statement data is already being consumed electronically, and this figure will continue to grow, according to International Accounting Standards Board Chairman, Hans Hoogervorst in a speech in which he outlined the importance of digital reporting amongst several other priorities.
The first XBRL Certified Software™ will be announced at Data Amplified. Any software vendor that wants their products tested for consideration within that initial announcement needs to apply by 6 October.
In this guest post from Mohini Singh, the CFA Institute suggests a number of measures to improve XBRL filing for Issuers and Regulators alike, in the US and other countries.
The CFA Institute has written to the SEC, strongly supporting the shift to Inline XBRL in the US. The letter suggests that “any data that is valuable enough to be required, and is used by investors and analysts should be reported in computer-readable form.”