CSRD Report Tagging and xBRL
eXtensible Business Reporting Language
What does XBRL Taxonomy mean?
XBRL stands for “eXtensible Business Reporting Language”, and it’s a globally recognized framework for exchanging business information.
The Draft ESRS XBRL Taxonomy introduces a set of XBRL elements, or tags, designed for use to digitally tag and store information about ESRS disclosures.
These tags not only facilitate the identification, navigation, and extraction of digital disclosures but also incorporate dimensions that allow for the disaggregation of data, enhancing the depth and clarity of reported information.
According to EFRAG, following the digital tagging guidelines should not create an additional burden for companies dealing with CSRD reporting. In fact, inline XBRL will enable the creation of documents that are both human- and machine-readable.
