2017 has been an extremely important year for the global shift towards structured digital reporting using the XBRL standard. On the adoption front we’ve seen securities market regulators recognise that the technological and regulatory changes impacting capital allocation require a wholesale shift away from paper to data. We’ve seen major countries, including Russia, adopt the standard for […]
After a significant amount of preparation and planning, Ukraine this week announced plans to move towards a “Hub and Spoke” based single financial reporting system using XBRL.
Taxonomy is at the heart of an XBRL program, publishing taxonomies for stakeholder consumption needs to be given a careful thought. Guidance note now is available for taxonomy owners. The Best Practices Board’s Implementation Guidance Task Force have come-up with guidance for the right way of publishing a taxonomy and business-friendly explanation of Taxonomy Packages […]
The UK’s FRC Lab says that the changing demands of users, supported by upcoming regulatory changes mean that boards can no longer ignore digitisation of listed company reporting. In a new report it urges regulators, investors, vendors and issuers to work together to maximise the benefit of Inline XBRL reports.
The IFRS taxonomy is used to create digital financial statements that conform to the International Financial Reporting Standards. The IFRS Foundation has now published the first version of a Preparer’s Guide to using this taxonomy.
There’s an interesting experiment over on the CoreFiling blog this week. Benford’s Law, or the law of First Digits, is an observation about the frequency distribution of the leading digit in numbers appearing in a range of data sets. These are not evenly distributed, but tend to start with small digits. The digit “1” will […]
Taxonomies, or the dictionaries of terms that define a set of reporting concepts are the core of any XBRL based reporting effort. XBRL International strongly recommends that taxonomies are made available in the form of Taxonomy Packages – dictionaries wrapped up in meaningful terms and tied with a bow. Furthermore, taxonomies should always be registered on the XBRL International taxonomy […]
This week, DataTracks Disclosure Management System became the latest software package to gain XBRL Certified Software™ status, meeting the certification requirements for Report Creation software. XBRL Certified Software has passed the objective tests defined by XBRL International. In the case of Report Creation software, this obliges vendors to embed an XBRL Certified validator in their […]
In a concerted effort to encourage small businesses to compete in the digital economy, in February this year UK innovation foundation Nesta announced its Open Up Challenge. This challenge sought to encourage Fintech firms to explore the opportunities provided by Open Banking APIs. The impending initiation of Open Banking APIs holds the potential to transform […]
The world’s social media platforms and financial markets are abuzz about cryptocurrencies and “initial coin offerings” (ICOs). But are these new digital revolutions going to stand the test of time? The SEC’s chairman thinks so, but also heeds caution to investors seeking to get behind the trend. With the incredible growth in the BloThe world’s […]
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.
