The Financial Supervisory Service, in collaboration with the Korea Institute of Certified Public Accountants and the Korea XBRL Headquarters, held the ‘2023’ at 63 Building (4th floor of Lavender Hall) in Seoul on June 1 to enhance understanding of XBRL financial disclosures and induce interest and participation from companies. XBRL International Conference’ will be held.
XBRL (eXtensible Business Reporting Language) is an international standard computer language for financial reporting.
Key figures from XBRL International will participate in the conference to share advanced cases of XBRL in the US and Japan, and seek ways to establish a stable XBRL financial disclosure system and create an XBRL data ecosystem with domestic and foreign experts.
As the first international XBRL conference to be held in Korea, it is expected to be an opportunity to share our financial disclosure advancement efforts with the world.
The Financial Supervisory Service announced ‘XBRL financial disclosure step-by-step advancement plan (‘23.3.31.)’ and is expanding XBRL financial disclosure this year.
The text of the financial statements will be expanded to listed companies in the financial industry and unlisted companies subject to submission of business reports applying IFRS from the 23.3 quarter report.
Financial statement annotations are gradually introduced from the 2023 business report of large non-financial listed companies with assets of over 2 trillion won (unlisted companies are not subject to XBRL annotations).
For the stable settlement of XBRL financial disclosure, the interest and participation of companies and information users is more important than anything else.
To this end, the Financial Supervisory Service establishes a cooperative system with the Korea Certified Public Accountants Association, the Listed Companies Association, the KOSDAQ Association, and financial associations by industry, actively supports the introduction of XBRL by companies, improves understanding of XBRL, and actively participates in companies. to hold an international conference to induce
As the first international XBRL conference to be held in Korea, key figures from the International XBRL Association (XBRL International) will participate to share advanced XBRL cases in the US and Japan, establish a stable XBRL financial disclosure system with domestic and foreign experts, and create an XBRL data ecosystem etc. will be explored.
It is expected to improve the understanding of the XBRL disclosure system by companies and information users, while mitigating trial and error in the early stages of introduction by sharing cases of overseas introduction.
In addition, we plan to use it as an opportunity to share our financial disclosure advancement efforts with the world.
2023-05-21 05:04:53
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