Over 500 changes were made to 'Element Names' in IFRS Taxonomy between 2006-2008 versions to simply improve the wordings. This change didnt affect computer processing of these elements, but required further changes to underlying programs. Was this avoidable?
By Trevor Pyman
Standard Business Reporting, where several government agencies harmonize their reporting requirements to reduce duplicate and redundant reporting of data from business to government, is a hugely underutilized phenomenon. Read to find out why?