XBRL International, Inc.

The final XBRL International newsletter of the year is out now! Don’t miss: 📰 Our review of 2024: three major sustainability taxonomies, AI’s move to centre stage, and why the big endeavours ahead make structured data essential. 📊 Why structured data leaves PDFs far behind in AI analysis – and power of taxonomy metadata for deeper, more accurate insights. 🎯 New guidance out now on designing an effective #XBRL data collection and processing platform, plus a review of other useful material from 2024. 💡 Insights from Joe Atkinson, Global Chief AI Officer at PwC. As AI brings exciting and transformative change, structured data remains as critically important as ever. 🌄 Highlights from a year of new and improved XBRL specifications – easier ways to authenticate reports, check data quality, tag text blocks, and more. 🌍 A quick world tour in 2024 news, with stories from Malaysia, Switzerland, Korea, the Netherlands, Italy and the US. 💻 End-of-year treats for the technically minded – take a look at our latest update spec updates. And in news just in from across the pond, the FASB has published its 2025 taxonomies. ✅ And we welcome Tangelo and Fandascope to the XBRL Certified Software family. Check your inbox now, or visit the news section of the XBRL International website for the full stories: https://www.xbrl.org/news/ We’re in awe of everything our amazing community has achieved this year, and we can’t wait to continue in 2025. As the holidays approach, we’re taking a short break, and we wish a joyous and peaceful season to all those celebrating.

“Unless the data is comparable, unless the data can be used easily, unless the data can be analysed, it’s no use,” says CA (Dr) Debashis Mitra, Past President of The Institute of Chartered Accountants of India (ICAI) and Data Amplified 2024 keynote speaker. We had a fantastic insight into India’s leadership on sustainability reporting, with #BRSR sustainability disclosures already being collected in #XBRL, and its ambitions to do even more. For ICAI, digital reporting, sustainability disclosures and AI are the future. Read more from Dr Mitra in this week’s XBRL International, Inc. newsletter – out tomorrow! – and keep following #DA2024 for coverage.

“We need to think about how data will be accessed and used in the most efficient possible way,” says Phil Fitz-Gerald, Director of Digital Reporting and Taxonomies at the UK’s Financial Reporting Council. He’s strongly focussed on making the most of digital data and on driving up data quality – putting the FRC at the leading edge of digital reporting. Find coverage from Data Amplified 2024 in the current XBRL International, Inc. newsletter. Look out for more this week, and keep following #DA2024 https://www.xbrl.org/news/

📢 Highlights from Data Amplified and more in this week’s XBRL International newsletter 📢 🌍 Data Amplified 2024: structured data at the heart of change: Over three dynamic days in Madrid, Data Amplified brought the digital reporting community together to explore the power of structured data in a rapidly changing landscape. From sustainability mandates to the role of AI, experts highlighted how structured, accessible data is essential for transparency, innovation, and informed decision-making. 🧩 Simplifying XBRL with the Open Information Model :
XBRL International is working on a streamlined approach to taxonomies, boosting usability and compatibility with AI and modern tools. 🇪🇺 CSRD leads the way in sustainability reporting:
EFRAG shared progress on aligning European standards with ISSB and GRI frameworks, advancing global sustainability goals. 💡 FSB tackles AI in finance:
The Financial Stability Board stressed the importance of robust data governance to manage AI risks and ensure transparency. 💻 ISSB webinar on transitioning from TCFD :
Join the 5 December webinar to learn how to adopt IFRS sustainability standards and build on TCFD recommendations. For more details and the full stories, visit the news section on the XBRL International website. 🔗 https://zurl.co/p5hW #XBRL #DataAmplified #SustainabilityReporting #AI

We were blown away at Data Amplified 2024 by Indonesia’s speed, ambition and focus in advancing digital reporting. M. Ali Hanafiah, Head of the Center for Information Systems and Technology at the Ministry of Finance, Indonesia, filled us in on how the highly anticipated Financial Reporting Single Window and eventual national taxonomy will allow companies to submit reports to multiple authorities via a single portal, hugely reducing reporting burdens and creating a single source of truth for financial information. We can’t wait to see its impact in strengthening Indonesia’s financial sector in future. #DA2024

What a fantastic event this has been. The digital reporting journey continues to accelerate. With the advent of AI, there’s lots of experimenting and lots of learning to be done, whatever your role. It’s also clear that structured data is more valuable now than ever before – for effective analysis (including AI analytics), to make use of sustainability disclosures, for granular reporting, to facilitate access to data, and to enable users to do all the many and exciting things they want to do with data today. We’d like to say a big thank you to our platinum sponsor PwC. Further thanks go to executive sponsor Workiva, sponsor AICPA & CIMA, exhibitors PwC, SureSync by VISMA and DataTracks. We also thank our association partners GLEIF, GRI, and of course AECA, who have welcomed us to this gorgeous venue in Madrid. And finally, thank you to all of our fascinating and insightful speakers, and to everyone who’s attended and helped make this such a unique conference. Let’s stay connected, and keep the discussion going into 2025 and beyond! #DA2024

Is this a record for biggest ever Data Amplified panel? We heard today from no less than seven members of the XBRL International Best Practices Board, plus its working groups and task forces, with their calls to action in implementing best practices. You can find the incredibly useful guidance developed by the BPB at https://lnkd.in/emQqXhga – and if you’re interested in putting your insights to work and joining this dream team, please get in touch – they’d love to have you. #DA2024 (Here we have Janis Steinmann, Joel Vicente, José Antonio Huizar Moreno, J. Louis Matherne, Catalina Ibáñez Gutiérrez, Campbell Pryde and Shraddha Bagul... thank you all for a great session!)

#XBRL needs you! Just a few hours of Data Amplified left to go, but if you’d like to keep the conversations going and be at the core of shaping a future-fit digital standard, please consider volunteering for XBRL International – and if you’re not yet a member, do join us. Our volunteers are an absolutely essential part of maintaining and developing the XBRL standard, and whatever your expertise your input is of enormous value. Check out these leaflets in your conference bag or at our exhibition stand, and feel free to talk to any of the XBRL International staff about volunteering opportunities. #DA2024

Good morning, and welcome to Day 3 of Data Amplified 2024! We hope that so far you’ve enjoyed learning some new things, making connections, and catching up with old friends. Your mission today is to chat with as many new people as you can! #DA2024

“Data unlocks better possibilities,” says Cristina Gil White, interim CEO at Global Reporting Initiative (GRI) and keynote speaker at Data Amplified 2024. She brought us some fascinating insights into GRI’s digitisation journey and development of the GRI Sustainability Taxonomy. The sustainability sector needs authoritative impact-related data, she argues, and going digital means users will be able to aggregate and analyse information much more easily and extract much more value from sustainability data – helping them understand what works in driving positive change. “As we convert to an XBRL standards organisation we will be much more future-fit.” #DA2024