The XBRL consortium is a community of people working together to digitise a vital aspect of the global economy – enhancing the efficiency, accountability and transparency of business performance.
Earlier this year we brought to your attention the fact that firms just aren’t using the massive amounts of data they collect (see story, right). Now there’s new research bolstering that notion. In a new 136-page report, The Age of Analytics: Competing in a Data-Driven World, the McKinsey Global Institute examines the application of analytics, and how businesses […]
Alternative presentations of XBRL data using JSON and CSV, along with the increased use of iXBRL, are creating new opportunities for investors, analysts and others to access XBRL data directly.
There is proven phenomenon of countries without significant telecommunications infrastructure “leapfrogging” landlines and moving straight to a robust mobile network. Could business reporting work the same way? Business reporting in Tunisia is currently paper based and not particularly comprehensive, but the government in Tunisia is actively seeking foreign investment and is under pressure to enact […]
We’ve got some more news from our friends at the Data Coalition in the US this week. Their research arm, the Data Foundation, is publishing a paper in cooperation with PwC on Standard Business Reporting. An excerpt shared this week highlights the potential for SBR to reduce some of the costs to business for regulatory […]
The four major regulators in India involved in the adoption of XBRL are the Reserve Bank of India, the Ministry of Corporate Affairs (MCA), the Securities and Exchange Board of India (SEBI) and the Insurance Regulatory and Development Authority (IRDA). XBRL is also used by the BSE (formerly the Bombay Stock Exchange) and even by the state […]
Our view is that minimising constraints within filing manuals and maximising the use of taxonomies for standardising the filing process leads to enhanced interoperability. What’s yours?
Our thoughts on a recent speech by IASB Chair Hans Hoogervorst.
In September we let you know about the projected A$1.2 billion in savings from Standard Business Reporting in Australia. Now the Australian Taxation Office Annual Report is out, confirming that amount, which is 50% greater than the original business case projections. That result certainly makes a compelling case for SBR, which has also been put to use […]
Reports by Inspectors General of US Government agencies reveal that progress towards deadlines set out by the DATA Act for structured spending data is not on track.