Chartered Accountants Australia & New Zealand (CA ANZ) has recommended that the Australian government require listed companies to digitally tag their financial statements.
In a pre-budget submission, CA ANZ noted that investors would benefit from financial reports that are easier to compare, and that the UK, USA and EU already require digital reporting.
It recommended amending the Corporations Act to require companies to file financial reports using the XBRL format, and stressed the need for investment in the country’s digital reporting infrastructure.
