11 September 2014, Bank of Mauritius
The Bank of Mauritius (Bank) today gave an overview of the XBRL-based Reporting System, Data Warehouse and Business Intelligence Tools (the XBRL 1) project to representatives of banks, non-bank deposit taking institutions and cash dealers. Other key stakeholders, some of whom are responsible for collecting information for statistical or regulatory purposes in Mauritius, were also invited to attend.
The intricacies of this new infrastructure as well as the various benefits that the system will offer to the Bank and its regulatees were highlighted during the presentation. The presentation can be obtained on the Bank’s website at the following link https://www.bom.mu/?ID=5100168
The XBRL technology will provide the Bank with an optimal automated data management system. The Bank will, thus, be using state of the art technology to collect, store and process data. The new system will have, inter alia, an advanced online reporting platform, a data warehouse and a Business Intelligence platform for internal users. Launched on 11 July 2014, the XBRL project is targeted for completion in October 2015.
The Bank is working closely with reporting entities to ensure a smooth transition from the current system of data collection to the new platform, which will be web-based and use “intelligent” spreadsheet or an automated data flow system. A working group, comprising reporting entities as members and chaired by the Bank, will be established shortly to discuss matters relating to regulatory reporting and taxonomy.
1 XBRL stands for eXtensible Business Reporting Language
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