Major governments worldwide have implemented – or are working to implement – new initiatives mandating sustainability and climate-change related reporting. The aim is to better understand the financial risk faced by climate change, and, in some jurisdictions, to also understand the wider impact entities have on environmental social interests.
XBRL International is delighted to be able to announce that Data Amplified, the annual conference on the future of business reporting, will be held on 16 and 17 October 2023 in Zurich, Switzerland.
XBRL International has recently published two new guidance items describing best practices in managing and communicating changes to taxonomies. As taxonomies are regularly updated, it’s important that involved stakeholders follow best practices to ensure that the transition to the new taxonomy version is well prepared for and unfolds smoothly.
This year European issuers filing with the European Single Electronic Format (ESEF) will be required, for the first time, to use block tagging to mark up the notes in their financial statements. This has implications, and presents certain challenges, for software providers, filers, and auditors alike.
We are pleased to report that this week the US Senate passed the provisions of the Financial Data Transparency Act (FDTA), as part of the Fiscal Year 2023 National Defense Authorization Act (NDAA), marking a significant milestone in transparency and data utility for the US.