Investors and corporate finance chiefs hold competing views on whether a two-decade-old financial data standard still has a future — and artificial intelligence is making the question harder to ignore.
That divide emerged at a recent meeting of the Financial Accounting Standards Advisory Council, a body of advisers to the FASB, where investors and corporate finance chiefs weighed in on whether eXtensible Business Reporting Language (XBRL) — the structured tagging system baked into every major company filing — is an indispensable tool or an expensive relic waiting to be replaced by AI.
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