Sri Lanka gears up for digital leap with XBRL reporting by 2026
Colombo Stock Exchange (CSE) recently formalised the first step in XBRL implementation, following an earlier announcement that Sri Lanka’s listed companies will begin reporting interim financial results in XBRL from 2026.
By introducing structured digital reporting, CSE aims to enhance transparency, reduce compliance burdens, and modernise how financial information is shared and analysed.
The initiative is being developed in collaboration with the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and the Sri Lankan Securities and Exchange Commission (SEC), with phased implementation planned: XBRL for annual reports will follow in 2027, and sustainability reports in 2028. Demonstrations have already been conducted for 30 listed companies in banking, insurance, and other sectors, with further awareness sessions underway.
This is Sri Lanka’s most significant move as yet towards digital financial reporting. While the country has historically relied on PDF-based disclosures, the adoption of XBRL will place it in step with international best practice, making data easier to compare, reuse, and analyse.
It’s an encouraging development that underscores the growing recognition of the value of structured data. High-quality, machine-readable financial and sustainability data improves regulatory oversight and reduces compliance burdens, while laying a foundation for AI-driven analysis before long.
Read more about Sri Lanka’s XBRL initiative here.
