A few weeks ago, Haaretz, Israel’s oldest daily newspaper, published an article about the country’s adoption of XBRL with the chilling headline A third of Israeli companies get int’l financial reports wrong. Summarizing the findings of a recently published study by a trio of researchers, the piece states:

  Vinod Kashyap is a Director at NextGen Knowledge Solutions Private Ltd., which is engaged in the business of conducting training courses on XBRL for banks, corporations, and financial professionals in India. He is a member of the Institute of Chartered Accountants of India and is a qualified Information Systems Auditor.

  Hyungwook Yoon and Hangjung Zo are, respectively, a Doctoral Candidate and Assistant Professor at the Korea Advanced Institute of Science and Technology. Andrew Ciganek is an Assistant Professor at the University of Wisconsin-Whitewater.

  The Securities and Exchange Board of India (Sebi) is envisaging to make the extensible business reporting language (XBRL) technology mandatory for listed companies in the mutual fund sector, reports Financial Express.

  The ministry of corporate affairs is planning to introduce extensible business reporting language (XBRL) for its MCA 21 portal, which is the database for 9 lakh companies in India.

  The ministry of corporate affairs is working with sectoral regulators such as the Reserve Bank of India (RBI), to put in place a centralised data pool that would help banks and lending institutions assess risk factors associated with a particular sector or a company.