During 2005 and 2006 Ignacio Hernández-Ros, (then Business XBRL area Headquarter in Software AG internacionally) was hired by XBRL International Consortium to carry on with the XBRL standard 2.1 development. Its objective was to complete those areas where the XBRL standard was not sufficient for new users (Financial Markets Regulators such as the CNMV with the CESR and the Bank of Spain with the CEBS).
These new users needed new features not developed in the first XBRL standard. Ignacio Hernández-Ros left Software AG and founded Reporting Standard in 2005. He signed a contract with the XBRL International Consortium for the technical development of the XBRL standard.