In 2008 the IASB voted to require the 500 largest companies of each member to file their 2009 financial reports using Extensible Business Reporting Language (XBRL).

Question

Quizplus · Accepted Answer

The IASB (International Accounting Standards Board) does not mandate the filing format for financial reports directly. The adoption of XBRL (Extensible Business Reporting Language) for financial reporting is typically decided by regulatory bodies in individual jurisdictions, not by the IASB itself.

In 2008 the IASB Voted to Require the 500 Largest