Stock exchanges have implemented a new XBRL-based compliance filing mechanism featuring identical and homogenous compliance data structures. This will not only ease the compliance burden on listed entities but also enable analytics on the data submitted by the listed entities, a joint statement put out by BSE and the National Stock Exchange of India on Monday said.
Under the aegis of Sebi Market Data Advisory committee constituted to recommend policy measures in areas such as securities market data standardisation, access and privacy, it was deliberated that XBRL would be implemented for all corporate filings.
Listed entities are required to submit periodical compliance filings to stock exchanges within the prescribed timelines as laid down in Sebi Listing Regulations and accordingly, they were mandated to report XBRL-based filings for financials from 2015 onwards.
