XBRL in the Canadian Federal Government Gets a Boost


The House of Commons Standing Committee on Finance tabled its report in the House of Commons. Here is a link to the report.

Recommendation number 26 states "That the federal government continue to implement the recommendations of the Red Tape Reduction Commission, such as the “One-for-One” Rule, to reduce irritants to business that impede growth, competitiveness and innovation. This could include exploring the possibility of standardizing business reporting language, known as XBRL, to reduce compliance costs for taxpayers and enhance federal data collection."

This is a significant milestone to the ongoing efforts of CICA and XBRL Canada to encourage XBRL adoption in the federal government.