Measuring, knowing and Improving Data Quality in XBRL Tagging

Ministry of Corporate Affairs Press Release on Enhancing the Quality of XBRL Filing Certified by Professional Members

Quality of XBRL Filing Certified by Professional Members  The Ministry of Corporate Affairs (MCA) has pressed upon for the need to improve the quality of XBRL (Extensible Business Reporting Language) filings. In a letter sent to the Presidents of the Institute of Chartered Accountants of India (ICAI) and the Institute of Company Secretary in India (ICSI) the Ministry said it is the bounden duty of these institutes to improve the quality of XBRL filing for […]

Myths about XBRL tagging

There are two myths about XBRL tagging: One, it is simple. Two, it is complicated. Both are not true. The first reaction of most CFOs is to treat this as one more exercise to be performed by finance/ accounting function and task an in-house resource to do the job. Though the incremental cost of such a decision is probably just the cost of the software tool required to prepare financial statements in XBRL format, the […]