Indonesian Stock Exchange Launches XBRL Filing
The Indonesian Stock exchange has officially launched its online XBRL reporting system for listed companies. The system utilizes a taxonomy based on Indonesian Financial Accounting Standards (PSAK), which has been gradually converging towards IFRS, but still has some key differences. Companies are required to submit the face financials at this stage. These can be submitted through the exchange’s online portal IDXnet, which is able to convert and validate submissions from a variety of formats, whether they are submitted via an online form, a spreadsheet or an instance document created by third party software. After a short pilot period starting in August that will allow for 30 day delays in XBRL filings, full implementation will be in 2016.