The XBRL Standards Board has approved the publication of a Candidate Recommendation of the new xBRL-CSV specification.
XBRL and Inline XBRL (iXBRL) are two different formats for structured, electronic business reports. These formats solve different business problems and reflect the broad range of reporting requirements that can benefit from the use of structured XBRL data. XBRL or iXBRL? This one of the key decisions that data collectors need to make when planning […]
There is increasing interest in granular data from financial regulators worldwide. There is also an increasing use of structured data using XBRL taxonomies within very large data collections, including inside enterprises. Combined, these new developments mean that our standards need to provide new ways to exchange information in highly efficient ways.
This week the XBRL International Board of Directors has voted to formally rescind the Financial Reporting Taxonomies Architecture (FRTA) recommendation. The FRTA was a no-longer relevant 2005 recommendation on taxonomy design, predating more relevant experience and the 2006 Dimensions specification. It was a guidance document which had been left behind by a decade of real-world […]
South Africa’s Companies and Intellectual Property Commission (CIPC) became the first regulator in Africa to roll out full scale implementation of Inline XBRL a year ago, in July 2018. After successful completion of the project’s first stage, they are ready to move on to stage two: enforcement and taxonomy updates. Last year the CIPC mandated […]
The SEC’s recently expanded requirements to report in Inline XBRL have been met with optimism, with the change being linked to increasing simplicity, improving data quality and use and enabling financial analysis. Craig Clay, president of global capital markets at Donnelley Financial Solutions, has highlighted how companies are looking to automate and streamline compliance reporting, […]
In anticipation of the upcoming European Single Electronic Filing (ESEF) mandate, the XBRL International Base Spec Working group has prepared new transformation rules that allow dates to be reported in Inline XBRL documents using different European languages and conventions. The working group is actively seeking feedback and review of these rules in order to ensure that they will meet the […]
The European Securities and Markets Authority (ESMA) has published an update of its European Single Electronic Format (ESEF) Reporting Manual including expanded guidance on common issues encountered when generating XBRL documents in line with ESEF regulation. The manual is aimed at all market participants implementing ESEF, and should be particularly helpful for those preparing IFRS […]
Last month saw the 23rdXBRL Europe Day, held in Paris from 28-29 May. More than 150 attendees got the latest news on ESEF, participated in working groups and networked over dinner in a French Brasserie. See here for a video of how the day unfolded and to access links to the various presentations.
The 10th XBRL Asia Round Table was held within a joint program with the Asian Development Bank (ADB) in Tokyo this week. Amongst many other presentations, delegations from the Japanese FSA, the Central Bank of the Russian Federation, the Reserve Bank of India, and the U.S. Federal Deposit Insurance Corporation shared their strategies for regulatory modernisation and digitisation.