XBRL is a language for the electronic communication of business and financial data which is set to revolutionize business reporting around the world. It provides major benefits in the preparation, analysis and communication of business information. It offers cost savings, greater efficiency and improved accuracy and reliability to all those involved in supplying or using financial data. XBRL stands for eXtensible Business Reporting Language. It is one of a family of "XML" languages which is becoming a standard means of communicating information between businesses and on the internet. (Source: XBRL International)
March 20/07 – London, UK
The Trustees of the IASC Foundation are today inviting applications for membership of its XBRL Advisory Council (XAC) and its XBRL Quality Review Team (XQRT).
The XAC will provide strategic advice to the Trustees and the Foundation’s London-based XBRL team on the future development and adoption of the XBRL Taxonomy for International Financial Reporting Standards (IFRSs). It will comprise ten members who should broadly reflect the diverse areas and professional interests affected by XBRL adoption and the implementation of IFRS taxonomies. The XQRT will review the developed taxonomies and offer strategic advice and practical recommendations on the quality of the IFRS taxonomy.
As the XAC will provide strategic advice to both the Trustees and the XBRL team, qualified candidates are expected to have an outstanding record in financial and business reporting as senior executives of their organizations.
For the XQRT, the IASC Foundation is looking for members who are highly experienced in the development of XBRL taxonomy, in project management and in quality review. Members of both the advisory council and quality review team should also reflect the diverse areas and professional interests affected by XBRL adoption and the implementation of IFRSs. Membership is offered on a voluntary basis with an expected commitment to attend monthly one-hour telephone discussions and two one-day meetings a year, usually in London.
