FRTA Recommendation Rescinded
After the XBRL International Board of Directors voted to formally rescind the Financial Reporting Taxonomies Architecture (FRTA) recommendation earlier this year, the process to rescind the FRTA has now been completed.
The FRTA was a no-longer relevant 2005 recommendation on taxonomy design, predating more relevant experience and the 2006 Dimensions specification. It was a guidance document that had been left behind by a decade of real-world experience and carefully thought out guidance which better reflects current best practice.
Today, the need for up-to-date taxonomy guidance is filled by the hard work of the Best Practices Board, and specifically its Taxonomy Architecture Guidance Task Force, which is publishing useful guidance documents on specific topics of taxonomy design.
The vast majority of our members and users around the world have understood that FRTA has not been relevant for a long time. This formal rescind is hopefully just a formality!
See here for up-to-date guidance.