XBRL Taxonomy Design and Management has been saved
XBRL Taxonomy Design and Management
Create the reporting structure to collect digital data
Many data collectors, such as regulators or analysts, are challenged by structuring and defining the information elements that enable the collection of high quality information. Deloitte helps to create structured reporting sets by designing XBRL taxonomies to collect data in digital form.
Regulators, standard setters, and investor communities collect information to execute regulatory policies, to develop principles and guidelines, and to make investment decisions. The collection of data requires creation of reporting sets that are readily understandable by the reporters. Yet, many data collectors have difficulty in structuring and defining the elements that enable the provision of consistent and high quality information.
Deloitte helps organisations to design reporting sets for the exchange of data using the XBRL standard.
The XBRL taxonomy is a precise reporting set that defines all reportable items and provides supporting information, such as a hyperlink to the regulator site explaining the reporting requirements in more detail. It enables users to identify individual reporting elements and tag this data in reports which can easily be shared digitally. As a result, report users, such as regulators, investors, and analysts can better find and analyse information.