| Abstract: | This study examines the progress of XBRL (extensible Business Reporting Language) in the Australian context. XBRL has the potential to be the digital language for data transfer and integration of business systems. The paper describes the nature of XBRL and notes that the Australian Prudential Regulation Authority (APRA) has mandated its use. We review the implications of XBRL, such as audit assurance issues, comparability and real-time reporting, and conclude that XBRL has the potential to enhance financial accounting reporting. What is needed is the completion of the enabling technology, simplification and acceptance. |
