XBRL Reporting - XBRL.US has formed a workgroup to help develop a taxonomy for the eventual reporting of state and local government financial reports in XBRL format. Its website is xbrl.us/home/government/state-and-local-government/Links to an external site.. Very few governments have actually attempted implementing XBRL reporting using the taxonomy being developed by XBRL.US. However, one county that has converted its financial reports to an XBRL reporting format is Will County, IllinoisLinks to an external site.. At least three years of financial reports have been provided by the Will County Auditor's Office. You will need to access the XBRL.US website and the Will County Auditor's website for its Open Government Center to complete this case.

Use the most recent XBRL CAFR report to anser the following questions. Respond to at least 2 peers by the due date to receive full credit for this discussion.

1. What is XBRL, and why is there an interest in its use by state and local governments?

2. What problem is the XBRL.US state and local government workgroup trying to address?

3. Does Will County use any custom tags?

4. What are your thoughts on implementation of XBRL reporting? Is it necessary and achievable?