Wednesday, April 22, 2009

The Great Taxonomy Landgrab

With the SEC mandate on the use of XBRL arriving in June, it is almost time for XBRL's 15 minutes of fame and buzzword status.

One aspect of that moment in the sun that I anticipate is an outpouring of taxonomies foisted on an unsuspecting public, by organizations with tenuous-at-best connections to the subject matter of the taxonomy. I believe this will follow the pattern of the flowering of XML Schemas earlier in the history of the web.

This will all shake itself out in a few years, but for a while it will be a rough ride. I'd like to think that this will make XBRL acknowledgement by XII process more valuable, but at the same time it challenges the meaning and governance around that process.

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