There is a feast of food for thought in a recent pair of in-depth interviews in the Winter 2021 issue of ThinkTWENTY20, exploring how XBRL supports more meaningful corporate financial reports in regulatory filings, providing better insights and transparency to the marketplace.
On 20 December 2021, the US Securities and Exchange Commission (SEC) upgraded its Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system to Release 21.4.
A new XBRL US case study examines how Liberty Mutual Surety has used XBRL to automate the generation of normalised data in the format the company needs, freeing employee time for higher value work.
The Bank of England’s Prudential Regulation Authority (PRA) has made a number of changes to its regulatory reporting requirements for the banking sector.
The Institute of Chartered Accountants of India (ICAI) is inviting comments on exposure drafts amending India’s Commercial & Industrial (C&I) taxonomies, used to underpin digital reporting.
Did you catch our story in December on the forthcoming introduction of Inline XBRL-based digital tax reporting for business by the Hong Kong Inland Revenue Department (IRD)?
The International Financial Reporting Standards (IFRS) Foundation has published a proposed update to the IFRS Taxonomy 2021.
This year we celebrated new ways to use the XBRL standard, with xBRL-JSON and xBRL-CSV reaching final recommendation status in October as part of our new suite of specifications. xBRL-CSV is ideally suited for collecting huge quantities of granular data, making it an exciting tool for today’s regulators, while xBRL-JSON is designed to simplify analysis and make XBRL data easy to use.
It is rapidly becoming clear that Inline XBRL is now the new normal for corporate reporting. The European Single Electronic Format (ESEF), discussed elsewhere in this newsletter, might be this year’s biggest attention-grabber but it is by no means the only game in town.
In addition to the new xBRL-CSV and xBRL-JSON specifications discussed above, this year has seen a number of ongoing and incremental improvements to the XBRL standard. Various new and updated draft specifications are available for experimentation, review and comment.
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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.
