Great article in Accounting Today about the status of XBRL adoption worldwide and its use to reduce business and regulatory reporting burdens (using Standard Business Reporting) and enhance analytics because tagged data is in a machine-readable structured format as discussed by John Turner, CEO of XBRL International
According to a recent article in Accounting Today -- The XBRL data standard continues to expand globally around the world as a important tool to reduce regulatory reporting by public companies using a standard data format that can be shared across regulators in one common report
More than 75% of the world’s capital markets are using XBRL (more than 100 regulators in 70 countries have mandated XBRL for regulatory reporting) but assurance has NOT been provided on the individual data elements contained in the disclosure filings… Providing assurances on XBRL data available to the capital markets can significantly enhance investor confidence of disclosed data consumed by investors
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