Enhancing quality in Inline XBRL tagging
In the realm of Inline XBRL, quality assurance is paramount. Xmetric Ltd recently released a report highlighting their lessons learnt in diagnosing and resolving quality matters in FRC-tagged accounts across the UK and Ireland. The report is designed to inspire and guide software vendors and preparers to soar to new heights in tagging quality.
Xmetric Ltd has refined its technical and accounting validation rules, encompassing both the technical and accounting facets. These rules address common tagging errors made by subscribers, offering comprehensive diagnostics that pinpoint issues efficiently. The diagnostics cover various areas:
- Incorrect use of signs.
- Tagging the same fact with different concepts in related groups.
- Omission of a tagged component in a sum.
- Omission of a tagged component in a sum total.
- Failure to tag a value equivalent to an arithmetic discrepancy.
- Use of concepts meant for notes in primary statements.
- Scaling errors in totals or components.
- Rounding of values.
- Digit transposition errors.
These diagnostic capabilities are detailed in the report, alongside guidance, making it a valuable resource for members of the XBRL community looking to improve their reporting quality.
For the full report here.