XBRL Análisis documental de su uso y aplicación en el sector financiero colombiano

Abstract

With the arrival of the IFRS (International Financial Information Standards) in Colombia, the country was forced to implement the Extensible Business Reporting Language (XBRL), which is a mechanism, tool or language for electronic and digital communication standardized for financial information. The XBRL meets the need for financial and accounting reports, with data and information that is much more understandable and comparable, in addition, it allows the information to be processed and stored in reliable digital and electronic warehouses, and in turn, reduces the manipulation of the report, increasing efficiency in decision-making and communication with the different stakeholders. XBRL is a digital tool, implemented by the International Accounting Standard Board, in order to complement the process of standardization of financial information worldwide, that is why XBRL has an important role in Colombia, due to the adoption of International Standards Of Financial Information (IFRS). In this work, it is analyzed how it has been carried out by the entities in charge of monitoring the process of adoption of IFRS in Colombia, and the development of the digital tool XBRL issued by the International Accounting Standard Board, as a complement to the IFRS standardization.