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
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This same financial reporting standard used in the private sector can be leveraged over to the US municipal bond marketplace to create better transparency and accountability in this increasing complex marketplace to protect the public interest by making this data more accessible and in a machine-readable format for better data analytics. Deloitte several years ago issued this video that describes the benefits of using XBRL for ESG reporting to help investors: https://www.youtube.com/watch?
Machine-readable reporting and immediate data analytics is the way to go
Data creation, data governance, data analytics and Big Data according to the Accounting Today article...Right now reporting is done in paper posted on PDFs that are not discoverable for data analytics – meaning not ACCOUNTABLE OR TRANSPARENT