Read Columbia University’s study: “An Evaluation of the Current State and Future of XBRL and Interactive Data for Investors and Analysts.”

https://www8.gsb.columbia.edu/ceasa/sites/ceasa/files/An%20Evaluation%20of%20the%20Current%20State%20and%20Future%20of%20XBRL%20and%20Interactive%20Data%20for%20Investors%20and%20Analysts.pdf

The study was based on the authors’ interviews with analysts and investors to explore whether or not “XBRL has delivered on its promise to them,” and describes several issues that identify reasons why financial and accounting executives are unhappy with the XBRL mandate.

• Analysts’ and investors’ dissatisfaction with high tagging-error rates in the filings,

• Excessive use of tagging extensions,

• The need for more detailed tagged data, lack of audit assurance of tagged data,

• The lack of tools to receive the data and then integrate it into companies’ workflow.

Answer rating: 100% (QA)

XBRL HighTagging Errors On analysis of the current state as well as the future of the XBRL and the interactive data most financial executives were not satisfied with the mandate of the XBRL Harris and ... View the full answer