Using XBRL for data reporting

Abstract

The Australian Bureau of Statistics (ABS) sees XBRL as having great potential for electronic data capture. It is important that any electronic data capture option offers a strong value proposition for the provider, especially when the provider is in regular and/or multiple collections. The value proposition is much stronger to deal electronically with us if the information can be extracted from their finance and/or other management information systems. The XBRL business case for providers is that important financial information is repackaged/reused for multiple purposes. Providers potentially can satisfy the reporting requirements of many government and other institutions, ranging from Taxation to the Stock Exchange without manual or repetitive effort. E-government initiatives in Australia are marketing the idea of ‘tell government once’. Operationally this is very complex and privacy issues arise. The ABS thinks the ‘providers tag once’ is a much better proposition. Agencies instead can ask for XBRL files from providers and ‘map’ to their requirements.