Last month, XBRL US introduced a free application program interface (API) standard as a Proposed Release. The API is designed to help programmers create, extract, and analyze XBRL formatted data. It is meant to be a standard that acts as a software intermediary, allowing applications to communicate with one another. Investors and analysts alike can use the XBRL API to gain access to and manipulate XBRL data, both historical data and data that is up-to-date. The API will work with any XBRL database or taxonomy.

On December 6th, the International Financial Reporting Standards (IFRS) Foundation released the IFRS Taxonomy 2018 – Proposed Update 2 General Improvements.

The SEC’s Division of Economic and Risk Analysis (DERA) recently analyzed XBRL exhibits submitted by issuers complying with the 2009 Interactive Data rules to file financial statement information in an XBRL format. The purpose of the analysis was to determine if IFRS (International Financial Reporting Standards) filers were being consistent with their use of custom tags with US-GAAP (US Generally Accepted Accounting Principles) filers during this first year of required XBRL filings.