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GRSIG DRIVES IMPLEMENTATION OF XBRL ACROSS ERNMENTS AND CAPITAL MARKETS
NEW YORK, NY, MAY 10, 2011 – XBRL International, Inc. (XII) announced its ernment/Regulatory Special Interest Group (GRSIG), a strategic initiative to promote better transparency and aountability to protect the investments of these key stakeholders, will meet during the XII Brussels nference. The GRSIG is chaired by senior representatives of the Australian
Standard Business Reporting Program, a ernment-wide effort to use XBRL to rce the burden on agencies and the public in llecting and sharing information.
“The XBRL mmunity regnizes the critical role regulators and ernment officials play in the adoption and utilization of the global XBRL standard,” said Anthony Fragnito, CPA, CEO of XBRL International, Inc. “Through the GRSIG, XII benefits from direct input from a global cross-section of securities, banking, insurance and other key regulators, as well as agency heads and other senior ernment officials, as they share lessons learned while implementing their XBRL programs and offer input to XII strategic initiatives that protect, enhance and expand their investments in the XBRL standard.”
Current members of the GRSIG include: Australia Treasury; United States Securities & Exchange mission; Ministry of Enomic Affairs of herlands; Aounting & rporate Regulatory Authority of Singapore; Emirates Securities and Exchange modities; European Banking Authority, EU; Bank of Japan; Bank of France; Taiwan Stock Exchange; Bermuda Moary Authority; UK HM Revenues & Customs; Securities Exchange Board of India; Reserve Bank of India; Treasury of Brazil; and the Service Public Federal Finance of Belgium.
"The GRSIG is a forum in which fellow regulators and ernment officials can directly interact with each other and share information in a nurturing environment," added Mr Fragnito. "This forum is something from which many regulators and agencies have told XII they would benefit. As drivers of XBRL implementation, ernmental and regulatory agencies are key stakeholders in the current and future capabilities of the XBRL specification.”
Other duties of the GRSIG include identifying key ernment/regulatory partnerships and stakeholders; outreaching to the global ernment/regulatory mmunity to develop balanced, broad-based positions about XBRL development strategies and advise XII leadership on how best to meet the needs of the ernment/regulatory sector. |