Neutral, software independent XBRL taxonomy quality assurance
What type of information?
XBRL taxonomies can be developed for various reporting areas reflecting specific of exchanged information defined in the legal acts.
How to define it?
Depending on the purpose of the exchanged information, XBRL taxonomies may be developed in different way, each time following best practices of the data architecture
Who is it for?
Electronic data dictionaries can be developed for purposes of various types of users, supporting internal reporting, such as consolidation of the company financial accounts, or external (supervisory) data exchange.
Why to use it?
XBRL taxonomies consitutes important part of broader mechanisms established for a such purposes like capital market transparancy, financial sector stability. It supports automatization of data exchange.
Banking, Insurance, Capital Market supervisors. Central Banks, Business Registers, Tax and Statisical Offices, non-fincial sector supervisory authorities. National budget monitoring institutions.
Listed companies preparing company specific extensions for purposes of market and securities authority. Large holdings and capital groups consolidation individual financial statements from numerous entitites
Non-government institutions collecting financial and non-financial information from different sources (e.g. listed companies, micro finance insititutions) providing value added information for purposes of market transparency.
Implementation of XBRL taxonomies for purposes of collection, dissemination and analysis of financial performance of listed companies. XBRL provides mechanism for automatisation of information exchange between securities issuers and investors.
XBRL as technical layer of data information exchange for purposes of financial and non-financial market supervision. Explicit and coherent information reported in this format provides one of fundaments for ensuring stability of the market.