A case study of XBRL implementation and development at the Federal Deposit Insurance Corporation (FDIC)

Abstract

Purpose The purpose of this paper is to examine the implementation and development of eXtensible Business Reporting Language (XBRL) at the Federal Deposit Insurance Corporation (FDIC). The investigation seeks to gauge the roles and experiences of the FDIC and its main stakeholders to determine their engagement in XBRL diffusion within their organizations. Design/methodology/approach This is an qualitative research approach that is driven by the use of an in-depth case study and supported by the use of semi-structured interviews. Findings The findings showcase the role played by the FDIC as the first US regulatory authority that implemented and developed Inline XBRL. In addition, the use of diffusion of innovation theory provides better understanding of each stakeholder’s issues, benefits and challenges based on their experience. Research limitations/implications The research does not examine the institutionalization of XBRL at the FDIC or its stakeholders. Therefore, future research could incorporate a different research design to capture the impact of the pressure resulting from the regulatory mandate. Practical implications The research offers practical insights into public information technology managers and policymakers at global government agencies which are either non-adopters of XBRL technology or current adopters and consider transitioning into Inline XBRL. Global stakeholders could learn from the US experience and develop better understanding of Inline XBRL applications and functionalities. Originality/value The originality of this research is driven by the FDIC’s experience as the first regulatory developer of Inline XBRL. As such, the case study is a best practice to future and current adopters who often navigate the nuisance of implementing new technologies and/or developing existing ones.

A Futuristic View of Using XBRL Technology in Non-Financial Sustainability Reporting: The Case of the FDIC

“…Therefore, filers could prepare one Inline XBRL document rather than generate an HTML document of their financial reports and then tag a copy of the financial report to create an XBRL version of it. Eventually, the same set of XBRL information could be rendered, allowing both the data producer (banks and corporate filers) and regulators (e.g., SEC and FDIC) to easily read and process the data (Mousa and Pinsker 2020). Effective from 15 June 2021, all corporate companies started filing their financial reports in Inline XBRL format to the SEC.…”

“…Banks have 30 days following the quarter-end to submit their completed call reports. The FDIC's bank examiners use a validation process and tests to check the incoming data for validity errors, which include mathematical and logical errors (Mousa and Pinsker 2020). The FDIC's bank examiners corresponded with filer banks to identify and resolve data inconsistencies in the call reports.…”

“…This case study uses one of the most salient theories of information technology adoption which is the Rogers' innovation adoption process (Rogers 1983). The Rogers' innovation adoption process has been widely noted as one of the leading theories in information technology adoption in regulatory authorities (Mousa 2013;Brudney and Selden 1996;Bugler and Bretschneider 1993;Norris and Kraemer 1996). Rogers describes the innovation adoption process as the "the process through which an organization passes from the first knowledge of an innovation to a decision to adopt or reject, to implementation of the new idea" (Rogers 1983, p. 21).…”

Digital Corporate Reporting: Research Developments and Implications

“…In the same vein, Mousa and Pinsker (2020) examine the introduction of XBRL-based digital reporting at the US Federal Deposit Insurance Corporation (FDIC). In 2005, the US Federal Financial Institutions Examination Council (FFEIC) introduced a mandate requiring all US federally insured banking institutions to file their quarterly reports of condition and income (Call reports) to the FDIC in XBRL format.…”

“…In 2005, the US Federal Financial Institutions Examination Council (FFEIC) introduced a mandate requiring all US federally insured banking institutions to file their quarterly reports of condition and income (Call reports) to the FDIC in XBRL format. Mousa and Pinsker (2020) focus on the regulator's viewpoint and report early evidence of improvements in data collection and management, such as data accuracy and accessibility, comparability, data control and improved compliance assessment productivity due to the streamlining of processes at the FDIC.…”