the purpose of XBRL and how it is used. You mentioned that "XBRL is particularly useful in the United States because of its complex regulatory environment. Companies are required to file financial reports with multiple regulatory bodies, each with its reporting requirements." I agree and would like to add that Securities regulators and stock exchanges use XBRL because they need to analyze the performance and compliance of listed companies and securities, and need to ensure that this information is available to markets to consume and analyze.

As far as a possible detriment to the use of XBRL, I came across a paper publication from Deloitte that describes the implementation of data standard XBRL as "far from easy". The paper outlines 8 ways to introduce data standards for regulatory reporting and reflect the best practices identified from Deloitte's professional experience in working with business and governments to implement these standards in reporting processes and systems. I did not read the 24 page document in its entirety, however, I believe Deloitte's point of view is to come up with solutions that create transparency and efficiency in regulatory reporting from both a regulator's and a business perspective. They state "The essential process to introduce interoperable data standards is a political process with both regulatory and organizational questions requiring time and political leadership to resolve