Business reporting initiative announces new members

BRIL (Business Reporting Ireland Limited), the company formed to promote the use of extensible Business Reporting Language in Ireland has recruited three new member organisations to its fold.

BRIL (Business Reporting Ireland Limited), the company formed to promote the use of extensible Business Reporting Language in Ireland has recruited three new member organisations to its fold.

The three new members of BRIL are Reach, Fujitsu Software Corporation and Accenture.

Reach is the agency established by the Government to develop a strategy for the integration of public services and to develop and implement the framework for electronic government.

Fujitsu Software Corporation who base their European operations in Ireland are at the forefront of the development of Fujitsu's suite of XBRL Products and have a proven track record in bringing innovative XBRL products and tools to the global market.

For over 30 years Accenture has been a leading provider of management consulting, technology and outsourced services in Ireland, employing over 900 people.

Welcoming the development, BRIL Chairman, Conor O’Kelly said: "BRIL has made considerable progress since its launch in February.

"The decision by these three diverse firms and agencies represent the growing awareness within the business and regulatory community that XBRL consititutes the financial reporting of the future.

"As well as developments in the US and the Far East, where XBRL is well advanced, the FSA in the UK is promoting this important and time saving technology.

"These three companies have recognised the advantage of joining the development of Irish XBRL at an early stage.”

BRIL was founded on February 6, 2004 by accountancy firms, Deloitte, Ernst & Young, KPMG and Pracewaterhouse Coopers as well as Farrell Grant Sparks.

Other founder members include the Institute of Chartered Accountants in Ireland, the Revenue Commissioners and the Central Statistics Office. The Companies Registration Office is also a strong supporter of the project.

A revolutionary technological development in business reporting, XBRL is an electronic “tagging” format, helping consumers of business information to effectively and accurately analyse information coming from different sources.

It simplifies the transfer of financial statements, performance reports, accounting records, and other financial information between different software programs.

XBRL reduces the time and costs of producing, communicating and accessing business information and is a means for competitive advantage.

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