Draft guidance on using a single iXBRL document for multiple reports

Posted on October 11, 2024 by Editor

Our draft guidance, How to use a single Inline XBRL document for multiple reports is here. This resource addresses the growing need for streamlined, efficient reporting, particularly in cases where a single document needs to satisfy multiple reporting requirements.

As the draft is still open for feedback, we encourage our community to review and share their thoughts with us.

The guidance starts by examining the traditional approach of using separate documents for each taxonomy, which, while simple, often leads to duplicated work and inconsistent data when preparers must manually tag overlapping information. This is a common pain point for those companies tasked with filing similar reports to different data collectors, such as combining US SEC and European ESEF filing obligations.

The document offers in-depth insights into the technical mechanisms within the XBRL standard that allow for multiple taxonomy reporting within a single Inline XBRL document. It outlines several approaches, including the use of separate documents for different taxonomies, multiple taxonomy references, multiple target documents, and unifying extensions. Each method is compared based on complexity, handling of overlapping content, and implications for data preparers and collectors. This detailed guidance is designed to help regulators and preparers choose the most appropriate solution for their reporting needs, whether that be for dual filings (e.g., US 20-F and European Annual Financial Reports) or integrating financial and sustainability disclosures.

This draft comes as a response to the increasing demands on preparers to reduce the complexity and duplication associated with multiple filings. Here at XBRL International we strongly recommend the creation of unified taxonomies, which can dramatically reduce the burden on preparers, while also ensuring higher-quality data collection. Where this isn't feasible, alternative approaches such as multiple target documents are explored to meet the needs of different filing programmes.

We invite the XBRL community and other stakeholders to provide feedback on this draft, helping us ensure that it fully addresses the challenges and opportunities of multiple reporting requirements. Please send your comments to the Taxonomy Design Working Group at [email protected]

Explore the draft guidance and contribute your insights