iBR Vol 03 Issue 03 September 2013
From filers and preparers, we continue to hear concerns about the difficulty of creating the XBRL financial statement attachment.
Paul Warren of Corefiling debunks the myth that the only benefits to using XBRL are to the receiver, and that adoption is driven exclusively by regulatory mandates.
Depositary Receipts Product & Innovation Manager, BNY Mellon explain the practical benefits of using XBRL for Corporate Actions.
One of the main responses to the latest financial crisis was the establishment of a single rulebook in Europe aimed at ensuring a robust and uniform regulatory framework to facilitate the functioning of the internal market and prevent regulatory arbitrage opportunities.
Successfully fixing a defective product may lead to higher consumer satisfaction than that experienced when no problem occurred at all. Some believe that the XBRL International community applied this principle at the core when the first specification emerged and continue to apply it for each modular specification.
Driven by Global External Reporting mandates, XBRL/iXBRL has emerged as the language of electronic business reporting. Organisations rely on it to publicly express their most important financial results, risk profiles and performance metrics. In many cases electronic filings have replaced published Quarterly/Annual Reports as the most reliable, consistent and widely-used source of information about what a company does and how well it’s performing.