ID Number: G00168507



XBRL: A Tool for More-Effective Risk Management
18 June 2009
 
Mary Knox  

XBRL has unique features not found in other standards initiatives that can be used to better manage risk. Financial services firms should take advantage of the increasing viability of XBRL for risk management functions requiring information accessibility, validation, analysis and communication.





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Table of Contents


    
 Analysis

1.0
    
 Overview
2.0
    
 "XBRL" Defined

2.1
    
 Definition
2.2
    
 XBRL and Risk
2.3
    
 Unique Features of XBRL Promoting Operational, Credit and Market Risk Management
3.0
    
 Risks Related to XBRL

3.1
    
 Misperceptions About XBRL
3.2
    
 XBRL Viability
4.0
    
 Some XBRL Taxonomy Initiatives Relevant to Risk Management: New, Under Way and on the Horizon

4.1
    
 Mutual Fund Risk/Return Summary
4.2
    
 Corporate Actions
4.3
    
 Governance, Risk and Compliance (GRC) Taxonomy
4.4
    
 Risk Taxonomy
5.0
    
 Recommendations

    
 Recommended Reading


List of Tables


Table 1.  
 Evaluation of the Viability of XBRL for Use by Financial Services Firms to Reduce and Manage Risk
 

Table 2.  
 Mutual Fund Risk/Return Summary
 

Table 3.  
 Corporate Action Taxonomy
 

Table 4.  
 GRC Taxonomy
 

Table 5.  
 Risk Taxonomy
 



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Resource Id: 1027015