Chinese XBRL taxonomy achieves 'acknowledged' status

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20 Dec 2012

XBRL International (XII) has announced that the General Purpose Taxonomy of Chinese Accounting Standards (CAS) has been granted “acknowledged” status by its Taxonomy Recognition Task Force, confirming its conformance to the XBRL specification.

The taxonomy defines the elements of XBRL and the basic requirements of preparing XBRL financial reporting based on CAS and was first applied in 2011.  It is currently used by a number of state-owned enterprises, financial institutions and large-scale administered state-owned enterprises.

Acknowledged taxonomies are recognised by XBRL International as being in compliance with the XBRL specification. Compliance is confirmed by testing a taxonomy in a defined range of XBRL applications which may be upgraded and changed from time to time. The taxonomy recognition process does not specifically address other issues such as ease-of-use or the completeness of accounting/reporting content.

Click for press release (link to XII website).

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