IGS Blogs

Since 2011, XBRL (eXtensible Business Reporting Language) has been the mode for exchanging financial information. In 2018, however, the Securities and Exchange Commission (SEC) prioritized development of a new global standard to increase efficiency, save money and improve data integrity and accuracy. This led to the introduction of Inline eXtensible Business Reporting Language, or iXBRL.

Inline XBRL, or iXBRL, has been a leap forward to reimagining the traditional approach to financial reporting. It streamlines the process from variance in reporting to a consistent, dynamic digital filetype, making the data consistent for people — and computers — to understand.