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As XBRL becomes more recognised as a vitally important tool to reduce data costs and streamline communication in the financial services industry, the full opportunities need to be explored. To ensure a full and clear understanding by the financial services industry globally rather than just those countries where is has already been adopted, especially in light of the DTCC and SWIFT initiative.
Standards lead to best practices; standardization makes life simpler. Information Systems Audit and Control Association (ISACA), has pioneered and promoted standards and guidelines in the area of aud