BSE Releases XBRL Taxonomies in Public Domain
Mumbai, Wednesday, 10 March 2016: With a view to making reporting by listed companies to Stock Exchanges more accurate and efficient, BSE had introduced the globally recognized XBRL based reporting for Shareholding Pattern with effect from June 11, 2015 and Financial Results with effect from October 15, 2015.
BSE thus became the first stock exchange in India to introduce and implement XBRL based reporting in association with its partner in this endeavor, Microvista Technologies. BSE had already launched its state-of-the-art efiling portal called “Listing Center” on February 8, 2013 which enables all listed companies to file their submissions / disclosures online and even facilitates submission of digitally signed documents.
As a further step to this initiative and in keeping with BSE’s commitment to transparency, BSE has now made available in public domain, the XBRL Taxonomies for 5 reports required to be filed by listed companies under the Listing Regulations, as mentioned below:
1) Regulation 31 – Shareholding Pattern
2) Regulation 33 – Financial Results for equity and Regulation 52 for Debt securities and /or NCRPS (non-convertible redeemable preference shares)
3) Regulation 27 – Corporate Governance
4) Regulation 44 – Format for outcome of Voting Results
5) Regulation 55A of SEBI (Depositories and Participants) Regulations, 1996 – reconciliation of Share Capital Audit Report
XBRL Taxonomy is a classification system that can be considered as an electronic dictionary for business and financial terms. It consists of a delineation of all the business and financial concepts along with their basic accounting and XBRL properties as well as the interrelationships amongst the concepts.
The Taxonomies related to the 5 Regulations mentioned above, are disseminated on the BSE website at the link:http://www.bseindia.com/static/about/xbrl_info.aspx?expandable=3.
The Taxonomies will enable Listed Companies to develop their own software for creating XBRL files for submission to BSE. It may be mentioned here that BSE will continue providing the Excel utility for enabling listed companies to file their XBRL filings, as per the present practice and this is only a value addition for those companies which desire to build their own software.
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