Program to focus on data transparency in government, securities and banking
XBRL International, the global standards organization dedicated to improving business reporting, today announced that its 2014 conference, Better Data for Better Decisions, will be held in Orlando, Florida on June 9-11, 2014. The conference is hosted by XBRL US, the US consortium for business information reporting, which is a jurisdiction of XBRL International.
Regulators, accountants and financial market stakeholders are invited to attend this 3-day event focusing on the impact of structured data in the public and private sectors. Significant global initiatives such as Standardized Business Reporting (SBR), and government performance reporting as envisioned in the proposed U.S. DATA Act legislation, will be presented. The program will also emphasize efficiency gains and risk reduction in corporate actions processing and bank regulatory reporting, important areas where XBRL is enhancing the reporting process.
SBR programs – government-led initiatives designed to reduce regulatory burdens by allowing for simplified reporting through agreed definitions – are currently in place in the Netherlands and Australia, and in the planning stages in several other countries. In the U.S., the DATA Act is a significant piece of legislation proposing the use of structured data for all government performance reporting. Discussion of these programs will present both the business and technical perspective through implementation case studies covering results, lessons learned and future plans.
“Government data collection and regulatory reporting in the U.S. is extremely fragmented, which is needlessly driving up costs and reducing the effectiveness of government. Structured data reporting can significantly improve government programs, reduce costs and increase the effectiveness of regulatory mandates,” said Philip Moyer, SVP and Managing Director, Technology, at Safeguard Scientifics, who is also Chair of the XBRL International Conference Advisory Committee, “This program will be an extremely valuable forum for regulators, contractors, and policy makers to collaborate on the many lessons that have been learned from active government reporting initiatives.”
The program will feature panel sessions and case studies in one track, with hands-on technical sessions in a separate track.
“Conference attendees will walk away with critical information on successful implementations around the world, coupled with technical skills that can be put to immediate use,” said John Turner, CEO, XBRL International. “This is the first international XBRL conference being held in the US since the implementation of XBRL for SEC reporting. Now is a key time to examine how the improvements structured data is bringing to business reporting across the globe, can be applied to government performance reporting, corporate actions and banking in the US and abroad.”
Who should attend? Regulators and other policy makers, IT professionals and technologists, government contractors, securities processors, investment data analysts and data aggregators will benefit. Learn more and register at http://conference.xbrl.org. Media representatives should contact media-info@xbrl.org for complimentary media passes.
About XBRL International
XBRL International (XII) is a global, not-for-profit consortium of over 500 organizations working together to enhance and improve business reporting through the XBRL standard. XII currently has affiliated Jurisdictions in 23 countries in Europe, Asia, Africa and North America. This collaborative effort began in 1998 and continues to produce a variety of specifications and taxonomies to support the collection and use of structured data for a wide variety of applications, including reporting for securities, taxation, banking, insurance and environmental sustainability. Learn more at http://www.xbrl.org. Contact: David Nitchman, Director, Communications, +1 207 370 0185, meda-info@xbrl.org
About XBRL US
XBRL US is the non-profit consortium for XBRL business reporting standards in the U.S. and it represents the business information supply chain. Its mission is to support the implementation of XBRL business reporting standards through the development of taxonomies for use by U.S. public and private sectors, with a goal of interoperability between sectors, and by promoting XBRL adoption through marketplace collaboration. XBRL US has developed taxonomies for U.S. GAAP, credit rating and mutual fund reporting under contract with the U.S. Securities and Exchange Commission, and has developed a taxonomy for corporate actions. Learn more at http://xbrl.us. Contact: Michelle Savage, Vice President, Communication, 917 747 1714, michelle.savage@xbrl.us
