US - XII Grants "Acknowledged" Status to a Series of Taxonomies from XBRL US

Issue Date:  2007-12-12

XBRL US has published a set of taxonomies that supersede the versions published in 2005 and 2006. A final release for which XBRL International "Approved" status will be sought is scheduled for later in 2008.

Australia - RFT Issued for SBR Project

Issue Date:  2007-12-12

The Australian Bureau of Statistics has issued a Request for Tender (RFT) for an XBRL Taxonomy Development Environment for the Commonwealth Standard Business Reporting Programme.The two relevant documents may be downloaded from

Europe - Banking Supervisors Recommend XBRL, Advance Taxonomy

Issue Date:  2007-12-12

The Committee of European Banking Supervisors (CEBS) has announced support for XBRL and is building a taxonomy with XBRL members, including the Bank of Spain, to handle solvency ratio reporting.  Latest information on the COREP taxonomy is available from the COREP website. 

Europe - Stock Exchanges Work on Company Data Repository

Issue Date:  2007-12-12

The Committee of European Securities Regulators' (CESR) has established a group including XBRL representatives to work on the creation of a repository of company information similar to the SEC's EDGAR database in the US. 

Ireland - CSO Creates First Live Implementation of XBRL in Ireland

Issue Date:  2007-12-12

The Central Statistics Office (CSO) Ireland has successfully piloted the use of XBRL in one of its quarterly industry surveys, creating the first live implementation of XBRL in Ireland.  Fujitsu Software Corporation and PricewaterhouseCoopers worked with the CSO in developing this solution. 

Japan - Bank of Japan Starts Live Use of XBRL for Data Gathering

Issue Date:  2007-12-12

An XBRL system at the Bank of Japan for gathering data from financial institutions has gone into live use.  The system, intended to improve the efficiency of data gathering, is initially collecting Balance Sheet data.  Its scope will gradually expand.  A spokesman said some 500 institutions are reporting through the system.  Japan's Financial Services Agency has also said it will introduce XBRL for financial statements by fiscal 2008. 

Singapore - Regulator to Introduce Online Filing in XBRL

Issue Date:  2007-12-12

The Singapore Accounting and Corporate Regulatory Authority (ACRA) have launched a project to establish XBRL as a standard for online financial reporting, according to MediaCorp News.  ACRA is working with the Singapore Institute of Certified Public Accountants to make filing faster, more efficient and transparent through use of XBRL.

Spain - Stock Exchange and Central Bank Receiving XBRL Data

Issue Date:  2007-12-12

The Spanish Stock Exchange has begun to use XBRL for receiving and distributing public financial reports from more than 3,000 listed companies.  More info in Spanish.  In a separate project, the Bank of Spain is receiving regulatory data in XBRL from more than 400 banks covering more than 90 pct of the Spanish financial sector.  The Bank of Spain has also developed a Financial Information Exchange System to support XBRL reporting by credit institutions.

UK - Two Government XBRL Services Go Live

Issue Date:  2007-12-12

 More than 10,000 company accounts in XBRL have been successfully filed to Companies House, the UK agency responsible for collecting and publishing company data, since XBRL filing began late last year. The introduction of electronic filing of accounts in XBRL has proved very successful, with submissions running at a higher rate than planned, Companies House said.  Separately, HM Revenue and Customs has launched a service for company tax filings in XBRL -- a further important step towards general regulatory filing of financial data in XBRL in the UK.  Both Companies House and HMRC are looking to expand the use of filing in XBRL over the next year. 

The UK Government has announced that it plans to make the use of XBRL mandatory for all company tax returns due after March 2010.  Company tax returns comprise both full financial accounts and corporation tax computations.

US - Banking Regulator Reports Major Success from XBRL Project

Issue Date:  2007-12-12

The use of XBRL for regulatory bank reporting in the US has achieved major success, according to the FFIEC (Federal Financial Institutions Examination Council).  In a report on the benefits of XBRL, the FFIEC said that its XBRL-based solution had achieved measurable benefits, including an increase from 66% to 95% in data cleanliness, from 70% to 100% in accuracy, from weeks to hours in timeliness, and a 15% rise in the productivity of analysts.  The system, under which call reports from more than 8,000 financial institutions are being filed using XBRL, went live in October 2005.  A Webinair is available explaining details of the project. 

Global Ledger WG Publishes "Annotated Instances" Working Group Note

Issue Date: 2007-08-08

The Global Ledger Working Group of XBRL International has published the second in a series of Working Group Notes - this one entitled "Annotated Instances".

Global Ledger WG Publishes "Amazing Account" Working Group Note

Issue Date: 2007-08-08

The Global Ledger Working Group of XBRL International has published its first in a series of Working Group Notes - this one entitled "Amazing Account".