Australia Projects A$1.1B Savings from SBR

One of the topics we’ll be covering here in Singapore is Standard Business Reporting (SBR), which is when businesses can use a single reporting template or and XBRL Taxonomy to report to multiple government agencies. The result is less red tape. more efficient regulatory programmes and significant cost savings. Australia and the Netherlands are already using SBR, and the concept is being examined in other countries as well, including Turkey, Canada and Finland.

Now, the Australian Tax Office is projecting total savings in 2015-2016 from SBR to be a staggering A$1.1 billion. This is up from A$400 million last year. You can read an article about it here, and then join us in Singapore for Data Amplified for an in depth look into what Australia and other countries are achieving with this strategy.

Some of the topics we’ll be talking about include:

  • Managing metadata across organizational boundaries
  • Expanding the SBR vision
  • Leveraging standardized taxonomies: SBR and banking

Are you curious about what some of these things are referring to? The XBRL International website as a number of news articles and blog posts you can refer to. Read them!

See the whole schedule here.

Leave a Reply

Your email address will not be published.