Reducing the Reporting Burden in the EU

Presenter: Frans van Schaik

In November 2006, the European Commission launched an ambitious Action Programme to reduce the administrative burden of existing regulation in the EU. This Action Programme is not about deregulation, but instead targets the implementation of policy objectives. A substantial number of information obligations (IO) can be simplified or implemented differently. XBRL is considered as an important enabling technology, reducing administrative burdens by offering higher data transparency, better search capabilities, lower reporting costs, improved comparability, better information disclosure, more reliable financial information, higher frequency of reporting, reduction of errors and better information access and sharing.