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Gaining from standards
Eight ways for regulators to improve business reporting
This paper outlines eight ways to introduce data standards for regulatory reporting. It reflects the best practices identified from Deloitte’s experience in working with businesses and governments.
Data standards, such as XBRL, are increasingly being adopted to lower the cost of data processing. We have bundled our insights and experiences of supporting organizations with XBRL-implementations into this Point of View. This publication explores the topics that regulators and governments can consider when introducing data standards to improve business reporting and lower the administrative burden. The document showcases Deloitte’s vision on XBRL and the future of reporting.
This paper is aimed at government officials, standard setters, and regulators involved in improving regulatory and compliance reporting, eGovernment solutions, and regulatory reform.