With the second IFRS digital taxonomy planned for publication on 30 April, this week the IFRS Foundation unveiled a short video designed to demystify the concept of IFRS digital taxonomies and illustrate how they empower companies to present information in compliance with IFRS Standards in a structured, machine-readable format.
In the ever-evolving landscape of financial reporting, the transition to digital has been a crucial shift to streamline processes, enhance; comparability and improve analysis, benefiting investors and stakeholders alike.
At an Outreach event on the EFRAG Sustainability Reporting Standards (ESRS) taxonomy held on Wednesday, key EFRAG personnel provided a range of details about the ESRS taxonomy that is currently out for consultation.
A recent blog by Elizabeth McCaul, Member of the Supervisory Board of the European Central Bank (ECB), highlighted the ECB’s focus on enhancing supervisory effectiveness in risk data aggregation and reporting (RDARR).
The European Central Bank (ECB) and the European Banking Authority (EBA) have recently teamed up to establish the Joint Bank Reporting Committee (JBRC). This initiative aims to enhance efficiency and reduce costs in the banking industry’s data reporting processes.