2021 has seen the initial implementation of the Inline XBRL-based European Single Electronic Format (ESEF) for financial reporting across Europe. This shared, machine-readable format aims to make European data consistent and comparable and offers potentially important insights.
It is rapidly becoming clear that Inline XBRL is now the new normal for corporate reporting. The European Single Electronic Format (ESEF), discussed elsewhere in this newsletter, might be this year’s biggest attention-grabber but it is by no means the only game in town.
One of the most interesting developments of recent years for reporting nerds has been the adoption of XBRL by the US Federal Energy Regulatory Commission (FERC) for disclosures by energy utilities. In Q3 it completed its transition to XBRL, activating its new Forms portal and ceasing to accept submissions in the legacy Visual FoxPro system.
Our jurisdictions around the world continue to break new ground in a range of activities, including XBRL research, experimentation and implementation. We would like to highlight just three here – but we would also love to hear your news from wherever you are in the world!
In addition to the new xBRL-CSV and xBRL-JSON specifications discussed above, this year has seen a number of ongoing and incremental improvements to the XBRL standard. Various new and updated draft specifications are available for experimentation, review and comment.
It might be December but there is still plenty happening! Read on for more on the new ISSB Chair, ESMA taxonomy, new SEC rules and digital strategy at EIOPA.
The Hong Kong Inland Revenue Department (IRD) looks set to launch Inline XBRL-based digital tax reporting for business within the next 18 months. An new consultation paper sets out progress so far and proposals for moving forward.
The XBRL Standards Board has approved the publication of an initial Public Working Draft of the Calculations 1.1 specification and an accompanying requirements document.
The XBRL Standards Board has approved updates to both the Data Type Registry and the Unit Type Registry. This update contains new draft data types and units that provide support for reporting greenhouse gas emissions.
Toppan Merrill have recently released a series of four very short videos, drawn from their September webinar on the question of ‘12 Years After the SEC Mandate. Has it All Been Worth it?’ – to which, of course, the answer is yes!
Join our Newsletter mailing list to
stay plugged in to the latest
information about XBRL around the world.
By clicking submit you agree to the XBRL International privacy policy which can be found at xbrl.org/privacy
XBRL International is a global not for profit operating in the public interest. Our purpose is to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting.
