UK’s FCA Implements Upgrades to XBRL Filing System for Enhanced Reporting Efficiency

UK’s FCA Implements Upgrades to XBRL Filing System for Enhanced Reporting Efficiency

By Prathamesh 11 March, 2024
news

The UK’s Financial Conduct Authority (FCA) has updated its filing system to incorporate the Calculation 1.1 specification and permit the use of .xbri file extensions, aligning with the Report Packages specification.

This enhancement enables UK filers to utilize the latest advancements in XBRL reporting. The Calculation 1.1 update streamlines calculations in validation reports, addressing previous issues related to rounding scaled numbers that affected accuracy and efficiency.

Additionally, the Report Packages specification introduces standardized assembly of XBRL reports into a singular container, accommodating various XBRL formats like Inline XBRL, xBRL-XML, xBRL-JSON, and xBRL-CSV.

The inclusion of new file extensions, ‘.xbr’ and ‘.xbri’, facilitates easy identification of XBRL reports and enhances compatibility and sharing among users and systems. This upgrade offers improved functionality and convenience for filers reporting to the FCA.

To find out more details please visit : https://www.xbrl.org/