This week saw 120 reporting professionals from our community descend on Fukuoka in Japan for the XBRL Asia Round Table.
Held in conjunction with the ADB's Asian Bond Market Forum, the event focussed on the need for collaboration across the reporting ecosystem for success.
With significant attendance from countries from across the region that have not yet implemented XBRL based reporting, the event was a resounding success.
The Malaysian Business Registrar (SSM) is rolling out the Malaysian Business Reporting System (MBRS) later this year. The system initially allows the submission of annual returns, financial statements and exemption statements, all in XBRL format.
This is a phased mandate that will eventually require some 600,000 private companies in that country to provide structured data. In addition to use by the SSM, the Malaysian tax authority will be using this data. The MBRS system utilises a digital signature to assist with legal recognition of the XBRL filings