eXtensible Business Reporting Language (XBRL)

XBRL is a language that enables computerised processing of business and financial data, the implementation of which, will provide significant time and efficiency advantages to many business sectors.

Many countries have adopted it and timescales have been set for the introduction as part of the fiscal reporting requirements.

There are many sites with references to XBRL that can be identified through Search Engines.

This is intended to provide links to the major organisations involved in the promotion and adoption of XBRL

XBRL International

A not-for-profit consortium of approximately 450 companies and agencies worldwide working together to build the XBRL language and promote and support its adoption.

This is the source of XBRL information, national representation and other matters affecting design, promotion, acceptance and implementation.

www.xbrl.org

World Wide Web Consortium (W3C)

Provides a forum for information, commerce, communication, and collective understanding.
W3C develops interoperable Web technologies (specifications, guidelines, software, and tools).
 
www.w3.org

The Promise of Interactive Data

Speech by Christopher Cox Chairman
U.S. Securities and Exchange Commission
14th International XBRL Conference
Philadelphia, Pennsylvania
December 5, 2006

www.sec.gov/news/speech/2006/spch120506cc.htm

Global Public Policy Symposium

Investor Needs and Role of the Auditor - A Vision for the Future
Paris, 7-8 November 2006

Global Capital Markets and The Global Economy:

A Vision From the CEOs of the International Audit Networks

Samuel A. DiPiazza Chief Executive Officer
PricewaterhouseCoopers International Limited

www.pwc.com

David McDonnell Chief Executive Officer
Grant Thornton International

www.gti.org

William G. Parrett Chief Executive Officer
Deloitte

www.deloitte.com

Mike D. Rake Chairman
KPMG International

www.kpmg.com
 
Frans Samyn Chief Executive Officer
BDO International

www.bdointernational.com
 
James S. Turley Chairman and Chief Executive Officer
Ernst & Young

www.ey.com

http://www.globalpublicpolicysymposium.com/CEO_Vision.pdf

Extract: "It takes only a bit of imagination to realize that digitization and Internet can enable users of company data to customize what information they want and how they want it presented, in much the same way that they are now able to customize the products and services they are now able to purchase. For example, some investors may want to know the earnings, cash flows, and perhaps other variables for a company currently and over some past period. Others may want each of these variables compared to other companies in the same industry or a similar “peer group,” or compared to averages for the market as a whole (or some portion thereof). And why, in a world where most public companies’ financial records are, or soon will be, in digitized form, should investors and other parties have to wait for a full quarter to receive pertinent financial information?"

ARTICLE acountancymagazine.com XBRL Technology – Taming the beast
Reproduced by kind permission of Institute of Financial Accountants www.ifa.org.uk

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