فارسی

 XBRL Working Group

The “Securities & Exchange Organization of Iran (SEO)” was established in November 2005 – following ratification of new market law and demutualization process – as the supervisory and regulatory body of Iran Capital Market. The mission of SEO is protecting investors’ rights; maintaining and developing a transparent, fair and efficient market and supervising the execution of the Securities Market Law.

Improving preparation, exchange, extraction, and comparison of information, providing more data reliability, enhancing the business reporting process and cost saving which finally leads to a fair and more transparent market are the key drivers of SEO toward XBRL implementation.

Therefore, SEO decided to adopt XBRL as the reporting standard for businesses in Iran. Align with SEO mission, XBRL vision statement was defined as:

"Developing and implementing XBRL in Iran capital market to enhance transparency of financial reporting and use this new technology in an efficient manner."

Therefore, streamlining collection of financial information from the listed companies and distributing of this information among the investors and analysts by using a uniform format was defined as the main goal of SEO. Furthermore, supporting and encouraging the other regulators, Ministry of Finance, accounting and auditing firms which can be accelerate XBRL adoption in Iran, as well as initiating some interactions with XBRL International organization toward forming XBRL jurisdiction in Iran is the other goals of SEO."

So, a specific working group consists of both IT and business professionals was formed to develop SEO taxonomy as the main building block of project. Along with this, creating awareness and demands for XBRL among a wide variety of stakeholders including filers, accountants, analysts and IT vendors and also providing the content and publications of XBRL website which represented in Persian and English are the other responsibilities of the mentioned working group.

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