LEI Taxonomy reaches Proposed Recommendation status
The Legal Entity Identifier (LEI) taxonomy has been published as a Proposed Recommendation. This indicates that sufficient implementation experience has been obtained to confidently believe that no additional development is needed. If no further issues are identified at this stage the specification will next be re-issued as an XBRL Recommendation.
The LEI, governed by Global Legal Entity Identifier Foundation (GLEIF), is a global, unique identifier that makes identifying entity ownership simple. When combined with XBRL tagged reports the LEI offers a powerful way to increase the trustworthiness of digital reporting. This taxonomy, developed by the “LEI in XBRL Working Group”, aims to standardise the ways in which LEIs are used in XBRL reports, improving the consistency and comparability of data and making entity ownership and relationships easier to understand.
The taxonomy files are available for review here.