eXtensible Business Reporting Language
Moving to a global standard for electronic business reporting
Today more than ever heightened regulatory oversight, globalization and rising risk awareness are forcing companies and regulators to look into technologies that standardize the exchange of financial and business information.
eXtensible Business Reporting Language, or XBRL, was designed to meet these challenges by establishing a global standard to streamline corporate to government and interagency reporting. Worldwide, regulators and companies are embracing XBRL as a standard for financial and business data.
As XBRL-based reporting is gaining momentum, now is the time to take a holistic approach in the integration of XBRL into your financial and business processes.
How we can help
Deloitte is one of the founding members of the XBRL International consortium. We can provide your financial reporting teams with expertise in the areas of (financial) data warehousing, financial processes (e.g. consolidation), audit & compliance, tax, ERS, industry expertise, and XBRL design.
For private companies
- Compliance assistance for regulatory filings
- Taxonomy extensions
- Corporate consolidation and financial data warehousing: leverage the strengths of XBRL internally
- Benchmarking analytics: introduce competitive benchmarks in a corporate data warehouse
For the public sector
- Taxonomy architecture and design: use XBRL to redesign your information obligations
- Administrative burden reduction advice: understand how XBRL can reduce the administrative burden for companies and contribute to an efficient government
- Interoperability advice: understand how XBRL can improve the exchange of information between different government agencies
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