28 December 2005

The Christmas/New Year holiday season is upon us and most are enjoying a well deserved break. Not so here at XBRL Australia, where we are busily tying up the loose ends on our funding for the Taxonomy Extension project. Our dialogue with our New Zealand counterparts is progressing steadily and we expect some announcements early in the new year.

Our project to assess the potential of XBRL to streamline financial reporting from SME's to the banks for loan covenant monitoring has expanded to embrace wider aspects of B2B (Business to Business) and B2G (Business to Government) reporting. Our planned meeting with Michael Carmody, the Commissioner of Taxation, and leaders from industry and government did not eventuate in 2005 due to Mr Carmody"s resignation from the ATO. We are now arranging for a new meeting early in 2006. For more detail refer to Consortium Activities - Banks and SMEs.

Australia was actively involved in the writing of a paper to the International Federation of Accountants (IFAC) to work through the issues related to audit and assurance of XBRL formatted reports. For more detail, see Consortium Activities - XBRL in Assurance.

For information on the latest news internationally go to the XBRL International web page.

Archive

• 24 November 2005
• 3 November 2005

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