The initiative in Australia uses its own taxonomy for the reporting requirements of government agencies in Australia.
A) Systems Based Reporting
B) Systems Basic Reporting
C) Standards Based Reporting
Standard Business Reporting

Question

Quizplus · Accepted Answer

Once XBRL standards are defined, they can be taken and applied to different industries and environments through the creation of different taxonomies. The Standards Based Reporting (SBR) initiative in Australia uses its own taxonomy for the reporting requirements of government agencies in Australia.

The Initiative in Australia Uses Its Own Taxonomy for the Reporting