The Australian Taxation Office’s latest figures show a dramatic uptick in business take-up of SBR, particularly in the superannuation industry where it promises the greatest return. Data audited by Deloitte Access Economics shows the scheme saved business and government $400 million in 2014-15, with 15 million transactions pushed through SBR-enabled systems. The ATO is still getting […]
Canada’s Third Biennial Plan to the Open Government Partnership (2016-18) has now been published. You are invited to read and share it. One of the commitments in the plan is to create a permanent dialogue mechanism to inform Canada’s approach to open government. If you would like to send your thoughts on the plan, please […]
eXtensible Business Reporting Language is becoming mainstream as costs stabilize, data quality improves and investor analysis capabilities expand substantially. Recently the SEC approved the use of iXBRL for filings. iXBRL combines HTML with XBRL to result in filings that are easily readable by humans but with all the XBRL codes built in. It is hoped that this […]
Approximately 25,000 companies now file with their securities regulators using XBRL – most of which are in the US, Japan, China and India. This is only part of the story, as several other countries require the use of XBRL for securities filings with regulators and other organizations. For example, some 10,000 companies file XBRL in […]
XBRL Canada is dedicated to the improvement of business and financial reporting in Canada, an objective shared by its prime sponsor, Chartered Professional Accountants of Canada (CPA Canada).
We believe that society has changed to a data oriented society, one in which data is becoming available in unprecedented forms and quantities; one where more and more detailed data is being disclosed by companies; one where data ranges from detailed data to big data.
Some of the data available is structured and some unstructured. We believe that structured data is usually more useful to investors and others. XBRL is a form of structured data that is designed specifically for business and financial reporting, is based on an internationally recognized standard, is widely used around the world. As such it offers the best alternative for the presentation of data for investors and other stakeholders and for filing of information with governments under Standard Business Reporting (SBR). Most of the G20 countries are using XBRL in one form or another. Several have adopted SBR.