SBR Australia to chair International Standards Advisory Group

SBR Australia has been appointed to chair the newly formed XBRL International Government/Regulator Special Interest Group. The group’s focus is to provide strategic advice to XBRL International and to represent the interests of Governments/Regulators that have invested in and are now reliant on XBRL for regulatory reporting. The group has attracted senior representatives from various government agencies/regulatory bodies from various countries including the Netherlands, United States, Singapore, China, Taiwan, Japan, Brazil, Poland, Belgium, France, India and the United Arab Emirates.

In addition to endorsing the Charter and electing SBR Australia as Chair at its inaugural meeting in Beijing, the group received an overview of the future activities of the XBRL Standards Board, as well as the XBRL Best Practice Board, as well as getting an overview of each countries experience and implementation of XBRL. The main focus of the group will be to provide feedback and advice on the strategy work from these two boards and to share information and knowledge on the implementation of XBRL and other standards.

SBR uses XBRL, an international business reporting language, to provide the single, harmonised reporting language which includes all of the information requirements across all forms used to report to the agencies in scope. The incorporation of the SBR reporting language and other services in businesses accounting systems, allows them to report directly to the agencies in scope, with a single secure sign-on, AUSkey, via their own accounting systems.

More information on SBR can be found at www.sbr.gov.au or email us for more information.