XBRL CH has launched a public consultation on its new XBRL CH Taxonomy, designed to meet the financial reporting needs of Swiss companies under the Swiss Code of Obligations (OR). The consultation is open to political parties, business associations, Swiss universities, and other interested stakeholders until November 1, 2024.
The XBRL CH Taxonomy was developed in collaboration with the Swiss Tax Conference (SSK) to address the unique requirements of Swiss companies. By adopting this taxonomy, companies can ensure that their financial reports comply with local regulations and provide easy access and reusability for various stakeholders, such as business partners, regulators, and tax authorities.
Adopting XBRL as a standard in Switzerland reflects the global trend towards digital financial reporting, which is already mandated by authorities in most major economies. The taxonomy supports various financial reporting standards, including Swiss GAAP FER, IFRS, and the Swiss Code of Obligations, enabling companies to meet domestic and international reporting requirements.
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