For those with an interest in Extensible Business Reporting Language, or XBRL, two groups are currently seeking public input related to the standard.
XBRL International Inc., the global consortium responsible for development and promotion of the business reporting standard, is
seeking public comment on the future business requirements and technical roadmap for XBRL.
The group is seeking feedback on a discussion document published by the XBRL Standards Board, which is responsible for managing the technical development of XBRL, to help determine the consortium's technical goals over the next five to 10 years.
The 28-page document, "
XBRL: Towards a Diverse Ecosystem" through March 19, seeks feedback on proposals focusing on three areas: Ease of use for developers; enabling information comparability around the world, and simplifying the use of XBRL data for analysis systems.
The discussion document includes dozens of questions for developers and users seeking comment on a number of issues, such as comparability across taxonomies and current challenges facing XBRL. Commenters can also respond via an
online survey.
"The Discussion Document is one of the ways in which we are engaging the marketplace on the future business and technology requirements of the XBRL technology," says Anthony Fragnito, CEO of XBRL International, Inc. In order to reach a broad audience, Fragnito says XII is also conducting
Webinars on the discussion document.
John Turner, outgoing Chair of the XBRL Standards Board, says XII is now seeking to facilitate XBRL's further adoption "inside the enterprise, as well as within other areas of the private and public sectors that rely on business reporting of all kinds."
Meanwhile, the Securities and Exchange Commission is also seeking input for an
upcoming public seminar to help companies and preparers comply with its
XBRL reporting rules.
The March 23 seminar will help answer frequently asked questions about the rules and technology requirements. According to the SEC announcement, the staff will provide an overview of the XBRL taxonomy—the list of tags associated with Generally Accepted Accounting Principles, discuss the role of the
Financial Accounting Foundation in maintaining that taxonomy, and provide guidance on other tools and information available to help with compliance.
Suggestions on questions and topics to be discussed at the seminar can be submitted by e-mailing
Ask-OID@sec.gov with the words "Public Education Seminar" in the subject line.
The event will take place at the SEC's Washington D.C. headquarters and will be Webcast on the
SEC Website.