This is a listing of XBRL news from around the world. If you have news that you would like to share, please send it to us.
Having fought for more than a year in favour of a radical reform of European financial supervision, the European Parliament on Wednesday gave the final seal of approval to a package of reforms which will see a fundamental shift in the way banks, stock markets and insurance companies are policed as of 2011. To read more about this, click here.
XBRL Project Enters Test Phase, Will Evaluate Straight-Through Processing (STP) Efficiencies, Shareholder Benefits
WASHINGTON, Sept. 16 /PRNewswire/ -- XBRL US announced today that Citi is working with XBRL US Labs, the research and development arm of XBRL US, to research the costs and benefits of transforming corporate actions processing in a pilot program that will involve dividend payment announcements. An impact analysis will be conducted on the issuance of XBRL-tagged announcements, processing by banks, depositaries, and stock exchanges, and on the ultimate usability of corporate event data by information consumers, particularly shareholders.
Norwalk, CT, August 31, 2010—The Financial Accounting Foundation (FAF) today announced the availability of the proposed 2011 U.S. GAAP Financial Reporting Taxonomy for public review and comment. The FAF is responsible for the ongoing maintenance of the taxonomy applicable to public issuers registered with the U.S. Securities and Exchange Commission (SEC). The deadline to submit written comments is October 30, 2010.
Article: This article written for the US market by IBM Global Business Services examines the problem of systemic risk and how data standards, XBRL, and smarter systems can close existing information gaps between regulators and financial institutions. To read more about this, click here.
13 August 2010 XBRL International, In (XII), the not-for-profit consortium of over 600 companies and agencies worldwide collaborating to build the XBRL language and promote and support its adoption has agreed to expand and maintain the 1,400+ member XBRL Interactive Network on Linkedin (hereinafter "XBRL Network").
TORONTO, Oct. 7 /CNW/ - A free, one-day event will be held in Toronto on November 5, 2009 at the Metro Toronto Convention Centre to update professionals impacted by XBRL. Critical issues covered include the United States' Securities and Exchange Commission's (SEC) Interactive Data Program, IFRS Convergence, the Canadian XBRL filing environment as well as an update regarding XBRL internationally. Equally valuable is a showcase of XBRL solution providers that allows attendees to view, understand and evaluate solutions to their XBRL challenges.
The Committee of European Securities Regulators (CESR) publishes the responses to its "Call for Evidence on the Use of Standard Reporting Format" which is of interest to the XBRL Community.
The Financial Accouting Foundation has released a new item:
Norwalk, CT, February 5, 2010—The Financial Accounting Foundation (FAF) today announced its new responsibility for the ongoing maintenance of the U.S. GAAP Financial Reporting Taxonomy applicable to public issuers registered with the U.S. Securities and Exchange Commission (SEC). The FAF and Financial Accounting Standards Board (FASB) will assemble a small team of technical staff dedicated to maintaining the taxonomy and will work towards the release of the next taxonomy update in early 2011. Today’s announcement is the culmination of several months of discussions between the FAF and the staff of the SEC.
The U.S. GAAP Financial Reporting Taxonomy is a list of computer-readable tags in eXtensible Business Reporting Language (XBRL) that allows companies to label precisely the thousands of pieces of financial data that are included in typical long-form financial statements and related footnote disclosures. The tags allow computers to automatically search for and assemble data so it can be readily accessed and analyzed by investors, analysts, journalists, and the SEC staff.
Read more of this press release here.
XII is seeking a partner to facilitate development, execution and on-going maintenance of a global professional certificate program. The successful vendor will guide development of a skills assessment matrix, on-line training, administer certificate examinations and related client databases for testing and renewals. The selected vendor will also produce marketing and related materials to support this program.
If you are interested in this request please contact email@example.com by 22 July 2010 so we can forward you an RFI.
New York, 14 July, 2010 – XBRL International Inc. (XII) announced today that it has constituted an Assurance Committee, a group established to providea forum for the identification and communication of market needs related to third party assessment of XBRL-tagged data and serve as the official liaison between market participants and XBRL International on assurance and related matters. The Committee will develop and catalog awareness materials (articles and publications) addressing the assessment of the accuracy of information tagged in XBRL format and how to lend credibility to this information. The XII Assurance Committee will not develop standards or related guidance for XBRL assurance.