Who is the founder of XBRL?

Who is the founder of XBRL?

The founder of XBRL (eXtensible Business Reporting Language) is the AICPA (American Institute of Certified Public Accountants).

Understanding XBRL's Origins

XBRL was initially conceived by the AICPA in 1998. This initiative aimed to establish a standardized and efficient method for the digital communication of business and financial information. The work of the AICPA subsequently led to the establishment of XBRL International, a global consortium dedicated to the ongoing development, maintenance, and promotion of the XBRL standard worldwide.

What is XBRL?

XBRL serves as an open international standard for digital business reporting. It provides a comprehensive language for the electronic transmission of business and financial data, significantly enhancing its accuracy, efficiency, and analytical potential for various stakeholders, including regulators, investors, and analysts.

Key Details About XBRL International

XBRL International, as the driving force behind the global adoption and evolution of the XBRL standard, coordinates efforts among diverse participants to ensure its relevance and functionality. Here’s a summary of its foundational details:

This consortium structure fosters a collaborative environment, allowing accounting professionals, regulators, software vendors, and other interested parties to contribute to the standard's development and widespread implementation. The overarching goal is to improve the transparency, usability, and comparability of business information across the globe.