The viewer enables users to easily view and analyse Inline eXtensible Business Reporting Language (iXBRL) files, displaying tagged data within reports, and is a key element of wider plans to fully digitise financial and sustainability reporting.

The trial will give users and key stakeholders time to test out the system and provide feedback on potential further developments and improvements.

Jennifer Guest, head of taxonomies at the FRC said: ‘It’s essential that we have a very effective data ecosystem to ensure that the data is transparent and accessible to a very wide audience at a very low cost and that is exactly what the new iZBRL viewer does.’

This innovative tool represents a significant step forward in making company financial information more accessible and transparent to stakeholders.