Description
The goal of the IFRS Foundation and its independent, standard-setter, the IASB, is to provide the word s capital markets with a common language for financial reporting. XBRL was developed to provide a common, electronic format for business and financial information.
Both IFRSs and XBRL are intended to standardise financial reporting in order to promote transparency and to improve the quality and comparability of business information, therefore the two form a perfect partnership.
Bringing together experts from international financial reporting, XBRL and regulatory communities, who will examine the implementation of XBRL (eXtensible Business Reporting Language) with IFRSs.
Representatives will include international government agencies, financial institutions, and other key projects and organisations, including the IASB, the IFRS Foundation and XBRL International.
