eXtensible Business Reporting Language (XBRL) is an open internet standard built on an XML base. While XML and HTML are functionally similar, for data transfer, analysis, and preservation, XML offers more convenience and flexibility. XBRL’s main goal is to lower the overhead of data exchange, and simultaneously raise the accessibility of information. Through the internet,XBRL provides more timely access to information and increase its ultimate utility. XBRL creates standardized environment where users can use the internet to prepare, broadcast, exchange and analyze financial information. n addition to XBRL’s automated financial data exchange and extraction being independent of information systems and software limitations, XBRL also reduces the need for different formats and input duplication. This allows users to compare and retrieve financial information directly,resolving the problem of inability to directly compare financial information in different formats.XBRL helps reduce costs related to financial reporting preparation, and creates more opportunities for investors and analysts to access financial information, and enhances the integrity and comparability of of the business reporting information.

The XBRL Taiwan aims to encourage the study, development, and application of XBRL in Taiwan so as to promote the institutionalization of XBRL taxonomy while acting as the channel for international exchange and communication. Under the supervision of the Financial Supervisory Commission of the Executive Yuan, the Taiwan Stock Exchange Corporation has launched the XBRL program in the capital market and has already completed the taxonomy development for different industries at the preliminary stage. This is the foundation for Taiwan in taxonomy development. In the future, XBRL Taiwan will encourage the adoption of local XBRL project....