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9 March 2006
The big news is that the Taxonomy Development Project has commenced. We have worked through the AASB requirements with the AASB and are now documenting that and creating the taxonomy elements. For those interested in this development, general information can be found on the Activities page, and detailed documentation on the Taxonomy page. We have not heard any more about our submission to the Regulation Taskforce, which is reporting on ways to reduce the regulatory burden on Australian business. The website indicates that the Taskforce has now finalised its report and provided it to the Prime Minister and Treasurer. We are liaising with the CPA Australia government lobbyists to maximise the potential of this report for promoting awareness of XBRL to senior levels of government. Progress appears to have stalled in the Assurance Working Group. We attended several international teleconferences and provided most of the material for consideration, however the objectives of the group seem to be too narrow and short term for it to be useful for Australian purposes. We will wait to see how much of our contributed material makes it into the final report sent to IFAC before assessing further participation in this endeavour. For more detail, see Consortium Activities - XBRL in Assurance. We presented last week (2nd March) to the ATO's Software Developers Consultative Group on the current state of play for XBRL in Tax Administration. We put together a paper on the subject based on the slide presentation. This is available for download from our Training Materials page. We will be presenting briefly to the meeting of the Finsia Company Reporting subcommittee next Monday (13th March) to bring them up to speed on what XBRL is doing and how it will affect equity analysts. For information on the latest news internationally go to the XBRL International web page. ArchiveWe have recently instituted an archive of these News pages for those interested in a little history. Click on the date below to see the News page as at that date.
XBRL Australia Ltd. |