XII Publishes Quality Control Process for Taxonomy Development
The XBRL International Best Practice Board has released a taxonomy_quality_control document highlighting three key contributing factors which influence the Quality in an XBRL Taxonomy, including:
- Project Governance Structure
- Iterative Processes for Taxonomy Development, Test and Review; and
- Skilled Resources in areas such as domain and XBRL technology experts.
Architectural issues at the design stage, internal and external review cycles and quality control check-lists for iterative testing are included as examples of framework components. Finally, this paper provides a sample list and description of supportive documents that enable this taxonomy quality control process to become a best practice.
The paper uses the Japan EDINET and UKHMRC taxonomies as case studies.