Kuwait-Mubasher: Capital Markets Authority (CMA) in Kuwait has joined the XBRL International organization which sets the criteria for disclosure, according to Kuwait News Agency (KUNA).
The move is likely to boost accuracy and accreditation of financial data and information, making them available for investors and the public at the same time, KUNA cited CMA’s statement.
Thus, CMA will have benefit from its expertise and services in electronic disclosure via the Extensible Business Reporting Language (XBRL), added the CMA.
XBRL language is a standard which was developed to enhance the way in which financial data is exchanged, making it easier to compile and share.
KUNA clarified that “XBRL is a type of XML (extensible markup language), which is a specification that is used for organizing and defining data.”
