XBRL Working Group

  

The XBRL working group represents the needs of investment professionals in the global implementation of XBRL by providing feedback to regulators, securities exchanges, XBRL International and associated jurisdictions, and other developing related taxonomies and reporting platforms.

 

Our Developed Key Principles for XBRL Frameworks

 

Through our meetings and discussions, the following principles outline the basis for our advocacy efforts and feedback to regulators.

 

• Core taxonomy (or structure of tagging elements) should be predefined by current financial reporting standards including generally accepted  accounting principles and other regulatory disclosure and reporting requirements.

 

• Taxonomy extensibility should maintain the level of data comparability as defined by GAAP and other regulatory requirements.

 

• Ultimately, companies should deliver required financial reports to regulators using the established XBRL framework.

 

• The general public should have equal access to the XBRL-tagged information.

 

• Regulators should develop the necessary infrastructure and protocol to ensure the timely updating of the established XBRL framework as outlined in the preceding four key principles.

 

 

Further elaboration (PDF) of the principles is provided as we meet with different regulators. Contact us if you have additional questions. 

 

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