New blogs highlight progress on modernising XBRL
At XBRL International we’re continuing work on OIM Taxonomy, a strategic initiative to modernise the taxonomy layer of the XBRL standard. The OIM will make XBRL simpler, easier to use and more powerful, while ensuring it is well suited to today’s data tools, including AI-driven analysis.
With the project progressing at pace, we’ve published two new blogs to share more details on where the OIM is going and why. The first sets out the high-level goals behind OIM Taxonomy, including improving ease of consumption, performance and modelling consistency, while making taxonomy metadata more accessible to developers, analysts and the tools they build. The second explores some of the emerging capabilities taking shape in the draft specification, from smarter approaches to taxonomy imports and extensions to richer declarative constraints and expanded support for record-based reporting.
The project has already reached an important milestone, with the requirements document having undergone public review. Work is now progressing towards the first draft of the specification, which will be released as Public Working Draft (PWD) for consultation as soon as possible. As always, engagement from across the digital reporting community will be essential to testing, refining and strengthening the specification.
If you’d like to learn more about the thinking behind OIM Taxonomy and the possibilities it opens up, take a look at our recent blogs, Introducing OIM Taxonomy: An Easier, Faster, More Powerful XBRL Experience and OIM Taxonomy in Practice: Exploring the Emerging Possibilities.
