As one of the XBRL for Dummies editors I feel justified in saying that it is the best thing that’s happened in financial reporting for a long time.

XBRL International Inc. (XII) announced that Mike Willis, Partner, PricewaterhouseCoopers LLP, has been re-elected as Chairman of the International Steering Committee (ISC) for 2010.

XBRL US, the nonprofit consortium for XML business reporting, announced that its national conference, “XBRL Financial Reporting: Advancing Transparency, Transforming the Dialogue”.

In addition to improving asset-backed securities disclosure (using XBRL perhaps?), SEC Chairman Mary Schapiro called for substantive ABS regulation in a speech Tuesday to SIFMA, the parent organization of the American Securitization Forum.

I have recently spoken with a number of organisations about the coming iXBRL filing regime for UK Corporates with HMRC. This ranges from FTSE 100 companies, private companies, Large Accountancy Firms and software solution providers.

Version 2010 Provides New Support for WSDL 2.0, JSON, And SysML Technologies; Enhanced XBRL Functionality; a New Stylesheet Design Paradigm; and Much More.

XBRL is not the panacea of all data problems but is a vitally important step in the right direction.

Because they are the financial instruments at the center of the economic crisis, it’s great that regulators are thinking anew about the information ecosystem in which ABS are bought and sold.

Trevor Pyman is Director and CEO of XBRL Australia Ltd. and an independent consultant to PriceWaterhouseCoopers (PwC).

How to simplify the management of Consolidation, Financial reporting covering the new XBRL format.