XBRL

how

they collaborate and interact with each other? We're already seeing that to some extent with our XBRL product.

where we are able to not only provide...

What is

that?

Sorry, XBRL.

An XBRL engine allows a business to make a narrative report, quarterly report, annual report, machine readable.

So it tags the element of the report and then a machine can basically read out the report.

I'm going to finish on a question for David.

It is modernising corporate reporting, and some of the proposals include more around digital tagging and XBRL.

Do you think that's a step in the right direction? Do you think perhaps AI is superseding that, or do you think that will improve the information investors get, or is that more useful for other stakeholders?

I think when it comes to providing assurance over things like tagging, if we're thinking about genuinely once-in-a-generation opportunities, or I think in the document it talks about something that will sustain for the next 10 years or more.

I'm gonna finish on a question for David.

It is modernizing corporate reporting and, and some of the proposals include more around digital tagging and XBRL.

Do you think that's a step in the right direction? Do you think perhaps AI is superseding that, or do you think that will improve the information investors get, or is that sort of more useful for other stakeholders?

I think when it comes to kind of providing assurance over things like tagging, if we're thinking about genuinely once-in-a-generation opportunities or, I, I think in the, in the document it talks about, okay, something that will sustain for the next 10 years or more, um, there's an argument that we maybe need to think bigger around some of the technology and some of the assurance that could be by design within some of the, um, proposals that are in this consultation.

I've

finally gotten an update on the XBRL, which is grand.

So when the CSRD was first implemented, they said that they were going to have this digital tagging system, quite similar to what you do in accounting.

So it will be easier for a data system to register all the data points and then you can compare it into like a massive database.

So that means that you can log on to the intranet and you can find every single company and you can compare them sort of side by side because you can just find the right XBRL code.

And it's also much easier in terms of verification for companies.

So it's just essentially streamlining every single company's reporting.

So the XBRL is essentially a tagging code that you add alongside each data point in the ESRS.