A new XBRL US Working Group covering the Construction, Energy and Transportation (CET) industries, is working on the untapped potential for XBRL’s use in the private sector. The working group will spearhead the extension of the US GAAP Taxonomy to cover the processing of surety bonds, which provide financial guarantees to a project’s owner that […]
EIOPA has issued guidelines on the use of the Legal Entity Identifier (LEI) by national competent authorities to allow the use of these unique identification code for insurance and reinsurance undertakings across Europe. Unless their national regulator advises differently, regulated institutions that need to apply the Solvency II Directive must apply for their LEI(s) by 30 June […]
After a careful process of review, the XBRL Global Ledger 2014 Specification has been given Candidate Recommendation status, meaning it is meets all identified requirements, and is ready for implementation in software. The XBRL Standards Board is also issuing a Call for Implementations, to identify necessary modifications. The XBRL GL Working Group will accept comments […]
The International Standards Organisation proclaimed 14 October “World Standards Day” as a way to “pay tribute to the thousands of men and women all over the world who develop voluntary standards for the advancement and welfare of societies”. So let us take this opportunity to thank the many volunteers in the XBRL consortium who are […]
Investors don’t want paper according to research by the University of Leipzig in Germany, with 96 percent of investors basing their investment decisions on information they find online (we assume the other 4% are using a dart board). And governments around the world are right behind them. According to Grant Hehir, Auditor-General of New South Wales, […]
An opinion piece in Government Technology Magazine advocates for using open standards as the best way for local and national governments to implement open data initiatives. The benefits cited include reducing “the cost of developing and maintaining the data, and can increase the data’s value by making it more widely used” along with creating “opportunities […]
Dutch banking giant ING has announced that from 1 January 2015 it will offer discounts on loan and credit applications for SME customers in the Netherlands who provide XBRL versions of financial statements through the Dutch SBR platform.
An Interagency Task Force meeting was held at the Central Bank of the Russian Federation to outline strategies for direct paperless information exchange, IFRS and the introduction of XBRL.
Data Transparency 2014 brought together policymakers and subject matter experts with agency leaders, civil-society advocates, and tech-sector innovators who are working to create a culture of open data in the US Federal Government. Mark Flannery, the SEC’s new Chief Economist, touched extensively on XBRL in his remarks highlighting data quality. He also affirmed that “SEC staff are committed […]
The XBRL Logo Looks Different! – Our previous logo was due for a little updating and modernisation. The new logo reflects the current reality – XBRL is an important standard that now supports almost every form of reporting imaginable, all over the world. We are a vital part of the global shift to data-centric reporting that provides […]
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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.
