The wide diffusion of XBRL will reach another milestone with the mandatory transition to iXBRL in the European Union. This process involves all listed companies, as ESMA requires iXBRL for companies issuing IFRS consolidated financial statements from 1st January 2020. This paper explores the points of view of preparers, key subjects in identifying the potential drawbacks of XBRL adoption since they are directly involved in the transition. We analyse letters responding to the ESMA 2015 consultation paper and interpret them in the light of previous literature on the topic, also considering the positions expressed by other respondents’ categories. This study contributes to XBRL literature by shedding light on preparers’ positions before the mandatory transition. Additionally, it stresses the gap existing between subjects bearing implementation costs of a communication technology and its end users. We provide insights useful to European policy-makers to improve the process of transition to XBRL. Indeed, findings remark the trade-off between the need for innovation and the necessity to reduce administrative burdens to enhance the competitiveness of European companies. Our analysis could be of interest also for policy-makers of other jurisdictions considering XBRL adoption as well as for companies and consulting firms supporting them in the transition.
|Titolo:||XBRL implementation in the European union: Exploring preparers’ points of view|
|Data di pubblicazione:||2019|
|Appare nelle tipologie:||02.01 - Contributo in volume (Capitolo o saggio)|