XBRL; It’s new, or is it?When you need help implementing a new standard, who do you look for? New standards don’t suddenly appear; they go through years of consideration, planning, design and development. XBRL is such a standard. Yes it’s new to most of us. But there have been some who have been deeply involved from nearly the beginning.
As a concept, XBRL (eXtensible Business Reporting Language) was envisioned in 1999. A decade later the SEC in the United States has mandated the use of XBRL for the largest filers, extending to all filers over the next three years. In the Netherlands the government has introduced an XBRL filing programme. In the UK, HMRC has said that they will require companies to provide XBRL formatted reporting in 2011.
Our history with XBRLSenior individuals at RAAS Consulting have been intimately involved with XBRL from the beginning of 2000, and have served across a number of XBRL working groups and leadership positions in the XBRL International and XBRL US.
Daniel Roberts served as the two-term chairman of the XBRL US Steering Committee, and a member of various working groups, including Assurance working groups, Accounting Supply Chain, Adoption working group, and represented the US on the XBRL International Steering Committee.
RAASConsulting has access to additional specialists who have been involved with XBRL virtually
from the beginning, and has been intimately involved with all aspects
of the development of the standard, including being a member of the
team that developed the XBRL US GAAP Taxonomy. In addition, these specialists have direct experience helping companies to create their XBRL filings for the SEC.
XBRL PartnersRAASConsulting has partnered with some of the premier providers of XBRL creation software and services (some of which have already been used for over 10% of SEC XBRL filings to date), and with specific nationsl parter organizations in countries in Europe. For specific information on our partnerships, please
contact us and we will be happy to discuss in more detail.
XBRL based servicesThere are a range of services that have been delivered, and that can be provided in the XBRL area, including:
- Taxonomy development
- Instance document creation
- XBRL Implementation project management
- Software selection and implementation
- Internal audit for XBRL processes
Contact us to talk about your requirements, or to find our more about how we can help you.