Gartner Research

XBRL: A Tool for More-Effective Risk Management

Published: 18 June 2009

ID: G00168507

Analyst(s): Mary Knox

Summary

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.

Table Of Contents
  • Overview
  • Overview
  • "XBRL" Defined
    • Definition
    • XBRL and Risk
    • Unique Features of XBRL Promoting Operational, Credit and Market Risk Management
  • Risks Related to XBRL
    • Misperceptions About XBRL
    • XBRL Viability
  • Some XBRL Taxonomy Initiatives Relevant to Risk Management: New, Under Way and on the Horizon
    • Mutual Fund Risk/Return Summary
    • Corporate Actions
    • Governance, Risk and Compliance (GRC) Taxonomy
    • Risk Taxonomy
  • Recommendations

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