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XBRL International, Inc. announced that Italy, Luxembourg and South Africa have been elevated to full jurisdictions with voting rights in the XBRL International Steering mittee. Jurisdictions facilitate and drive adoption of XBRL within their defined regions, supporting the XII mission to promulgate XBRL as the worldwide business reporting standard.
“As ernments and stock exchanges reengineer regulatory frameworks to protect investors and stimulate enomic revery through improved data transparency and disclosure, XBRL jurisdictions are actively involved in helping to shape this new regulatory landscape,” said Anthony Fragnito, CPA, CEO of XBRL International, Inc. “With the elevation of Italy, Luxembourg and South Africa, XBRL is now officially represented in 24 jurisdictions spanning Europe, Middle East, /Pacific, North America and South America, with many others in the formative stage.”
“Jurisdictions work with ernment leaders, regulators, industry anizations, mpany executives and other stakeholders to drive adoption of XBRL within their respective untries,” added Fragnito. “As a result of these efforts, XBRL is either mandated or part of voluntary filing programs in more than 20 untries, including China, Japan and the US - three of the world’s largest enomies.”
Each jurisdiction will be represented at the upming 19th XBRL International nference: "Rcing Reporting Burden with XBRL: A Catalyst for Better Regulation” in Paris, France, June 23-25, 2009. Leaders from the world’s central banks, securities regulators, auditing and acuntancy standards bodies, stock exchanges and rporations will speak during the nference to executives, investment managers, acuntants, technology vendors, analysts and others. They will describe how XBRL is being applied today to rce reporting burden, improve disclosure and enhance transparency of both financial and non-financial information. Special sessions are being held for members of the investment mmunity, including hedge funds, to demonstrate how XBRL meets their information needs.
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