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The use of XBRL in financial reporting and beyond is steadily growing worldwide, both in established business centres as well as in emerging economies. In the European Union, in particular, the use of the open, royalty free standard has spread and some 60 reporting projects have been implemented or are currently under realisation.
Importantly, the three European Supervisory Authorities, EBA (the European Banking Authority), EIOPA (the European Insurance and Occupational Pension Authority) and ESMA (the European Securities Market Authority) are supporting the standard and are making it mandatory in many exchanges.
The European Commission is also closely monitoring the development of the standard and the numerous projects where it is applied. Many...
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