Dear all

 

Please accept apologies for cross-posting

 

You may remember that on 2^nd April the IASC Foundation published the Due Process Handbook for XBRL Activities for a 90-days period of comments ending on 26^th June.

 

The Due Process for XBRL Activities summarises the considerations of the International Accounting Standards Committee Foundation (IASCF) in formalising the due process for XBRL activities.  In order to achieve the necessary level of quality, a substantial effort has been devoted to reviewing and defining a proper due process.  The due process of the International Accounting Standards Board (IASB) for setting International Financial Reporting Standards (IFRSs) has been taken as a reference.  This new process has been used in building the IFRS Taxonomies 2008 and 2009 but it has yet to be given formal status.  Review of the Taxonomy development due process has also led to the review of the processes entailed in other XBRL activities, such as translations or the preparation of support materials. Additionally the document describes charters for the XBRL Advisory Council (XAC) and the XBRL Quality Review Team (XQRT).

 

The Due Process for XBRL Activities, as described in the Handbook, sets out the IASC Foundation’s XBRL mission, methodology and scope of work for both IT and accounting matters of the IASC Foundation XBRL activities, and especially the IFRS Taxonomy. The Handbook describes the mandatory procedures followed in developing the IFRS Taxonomy and in all other XBRL activities and comprises of the following stages: planning and analysis, technology evaluation, alignment with underlying IFRSs, taxonomy building, review of taxonomy drafts, and taxonomy publication and maintenance.

 

The International Accounting Standards Committee Foundation (IASCF) invites comments on the exposure draft of a Due Process Handbook for XBRL Activities. Comments are most helpful if they contain a clear rationale and, when applicable, provide a suggestion for alternative wording the IASCF should consider. Comments should be submitted in writing using Comment Letters system.

 

Please do not miss this opportunity and make sure to provide comments by 26 June

Best

 

Olivier

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Olivier Servais | Director - XBRL Activities

IASB / IASC Foundation
30 Cannon Street  |  London EC4M 6XH  |  UK
Direct: +44 (0) 20 7246 6927  |  Switchboard: +44 (0) 20 7246 6410
oservais@... | www.iasb.org
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