Digital Financial Reporting

In the US; the FDIC, SEC, and FERC have each implemented XBRL and each has done so differently.  ESMA has their own approach, using ESEF (European Single Electronic Format).  Greenfiling seems to be pushing a "Green Open Filing Metric Ecosystem" for things like climate change information. Eurofiling, which I believe helped to get ESEF created and I believe is behind Greenfiling, seems to be pushing things in the right direction. SBR (Standard Business Reporting) is another approach to business reporting. The DataPoint Model is another approach.

What would be incredibly unfortunate is if each regulator created their own custom version of XBRL-based reporting.  It is also unfortunate that there is not yet some general format that someone could just pick up and use.  That is what OMG's SBRM is trying to achieve.

Folks, every regulator consumes "words" and "numbers".  Sure, perhaps there are some good reasons to have different types of XBRL-based reporting.  But each being custom without good reason is really dumb.  Sure, the standard ISO shipping container has multiple versions.  There will likely be different versions of XBRL-based reporting also.

Regulators, think about what you are doing and how it will impact others.

Enterprises generally have multiple regulators that they have to interact with.  Enterprises are likely going to leverage digital business reporting and digital financial reporting internally.  How is what each regulator doing impacting them?