Disclosure of the XBRL language by public and control entities in Colombia

Abstract

This paper points out the possibilities offered by the appropriation of the xbrl language at a State level by describing different examples of global appropriation. The purpose is to give a detailed account of different aspects related to the presentation of accounting and financial information at a national and international level and its implications in commercial aspects and in the reporting of information to control entities with jurisdiction in this field, in order to exercise the supervision of the reported information. A theoretical-descriptive methodology was implemented, in which the background of different authors was reviewed in order to identify and describe the significant events derived from the impact of using the language reviewed. The results obtained suggest the need for sufficient knowledge about the use of language, the national implementation of international standards, such as ifrs, having the support of the icts for proper implementation according to the Colombian organizational taxonomy, in addition to the commitment they must acquire in terms of their implementation and launching as far as information processing is concerned, and which represent one of the most valuable inputs in each of the companies observed. Overall, the objective is to standardize the production of useful information focused on a wider spectrum of users, customers, investors or stakeholders in general.