eXtensible Business Reporting Language (XBRL)
Reducing reporting complexity
eXtensible Business Reporting Language (XBRL) is a language for the electronic communication of business and financial data, which is being adopted as a reporting standard around the world. The adoption was given a boost by compliance with the U.S. Securities and Exchange Commission’s (SEC) final rules, requiring registrants to submit XBRL tagged financial information.
Yet, the adoption of XBRL goes beyond SEC. In addition to many voluntary filings programs already implemented globally, other international regulatory programs, such as SBR and Solvency II, have also announced the obligatory use of XBRL. XBRL is also gaining momentum in the non-financial reporting domain, like sustainability reporting.
Deloitte supports organisations in transforming their business reporting by leveraging XBRL to improve efficiency and reduce costs associated with data collection, reporting and analysis. Organisations can also get comfort on the quality of their XBRL filings through Deloitte’s XBRL Assurance services. Deloitte also provides services to regulatory bodies in developing taxonomies to streamline the collection of data as well as implementing portal solutions for processing XBRL filings.
Service offerings
- Data Collection & Analysis
- Reporting & Disclosure Management
- Taxonomy Design & Management
- XBRL Assurance
Featured insights
- Sustainable XBRL
In this iBR Magazine article Elina Sviklina (GRI) reviews the work done to create a taxonomy for sustainability reporting and shares the plans for roll out and adoption. - Gaining from standards – 8 ways for regulators to improve business reporting
Data standards are increasingly being considered to lower the cost of data processing. This Deloitte publication explores the topics that regulators and governments can consider to introduce data standards such as XBRL to improve business reporting and lower the administrative burden. - Using standards to increase value of reporting
This reprint from CEO Today’s article Using standards to increase value of reporting addresses how companies can benefit from the use of open standards. Embracing and integrating digital reporting helps companies to create a more efficient, effective and reliable reporting process. - Dutch Businesses benefit from XBRL
In this reprint from iBR Magazine’s article Dutch Businesses benefit from XBRL, Deloitte is interviewed on how SME’s can comply with the Dutch XBRL mandate (SBR) and at the same time lower their administrative burden. - The emerging requirement for Taxonomy Standardisation and Management
iBR magazine interview with Cees de Boer, CFO/COO of Deloitte Netherlands - How XBRL adds value to business reporting (video)
Deloitte interviews prominent organizations about their views on what XBRL is and what kind of benefits it offers for companies, financial regulators and standard setters. - Introducing the GRI taxonomy (video)
Global Reporting Initiative (GRI) recently published the GRI taxonomy to support organisations in improving their sustainability reporting process. - Deloitte annual report in XBRL
Deloitte Netherlands publishes annual report in XBRL, including an assurance report. - The case for XBRL
New perspectives on business information processing - Moving to a global financial information framework
Introducing XBRL-based processes and applications can have a critical effect on the way companies manage their business. - eXtensible Business Reporting Language XBRL - XBRL frequently asked questions (FAQ)
Answers to a variety of questions related to eXtensible Business Reporting Language (XBRL) such as implementation schedule and submission due dates.
Contact
Please contact us at XBRLplus@deloitte.com
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