XBRL International, Inc. (XII), a global consortium dedicated to the
development and adoption of XBRL, convened the 17th
XBRL International Conference today in the Netherlands. Drawing more
than 300 prominent securities regulators, business and financial
executives, analysts, investment professionals and software developers
from 37 countries, the “XBRL in Action”
themed conference opened with sessions showing real use case studies of
XBRL around the world. XBRL is now mandated or used in voluntary filing
programs in Australia, Belgium, Canada, China, Denmark, France, Germany,
India, Israel, Japan, Korea, Netherlands, Singapore, Spain, Sweden,
Thailand, United Kingdom and United States.
“Markets representing two-thirds of the world’s
total market capitalization have mandatory or voluntary XBRL filing
programs in place,” said Anthony Fragnito,
CPA, CEO of XBRL International, Inc. “Just as
companies using XBRL have attracted more attention from analysts and
investors, the global XBRL effort is attracting more attention from
international organizations representing financial executives,
securities regulators, auditors and accountants. This further
illustrates that the market has accepted XBRL as the standard for
business reporting and these groups have moved XBRL higher up in
priority.”
XII also announced today that JustSystems, Inc., an active global XBRL
member, has contributed its intellectual property rights for XBRL
rendering technologies to XII, the standards body responsible for
oversight of the XBRL specification.
“JustSystems’
generosity and leadership in donating its intellectual property is very
much appreciated by the consortium,” added
Fragnito. “This is an excellent example of
how our collaborative process works, making relevant XBRL inventions by
our members available for use within the XBRL community. XBRL was formed
on the basis of open source technology, and our collaborative
development model relies on the generous contributions of its members
for promulgation of the global XBRL standard.”
Under the terms of the contribution, XBRL formatting linkbase patents
held by JustSystems will not be asserted. JustSystems will maintain
invention rights, but the intellectual property and all documentation
can be applied freely by the software developer community at large.
Fujitsu (www.fujitsu.com) is the
presenting sponsor for the conference.
About XBRL International
XBRL International, Inc (XII) is a global consortium using a
collaborative effort to create XBRL, an open source, standard for
business reporting based on XML. This Web protocol is being developed
and promoted by an international not-for-profit consortium of more than
600 major international companies, organizations and government
agencies. For more information about XBRL, please visit www.xbrl.org.
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