New XBRL Glossary Reduces Jargon
The XBRL Best Practices Board has published a first full release of the XBRL Glossary. Until now, there haven’t been better terms available for referring to XBRL features and functionality. The glossary seeks to change that by providing a set of simplified terms with a clear description to help newcomers get to grips with XBRL.
Europe-wide Supervision for Stronger Banks
President of the European Central Bank, Mario Draghi, argues that the disjointed nature of national supervision and resolution in Europe in 2008 led to markets fragmenting down national fault lines – with individual nations creating negative spillovers by defending domestic policy at the expense of united efficiency and stability.
AICPA Findings Reveal 45% Drop in XBRL Costs for Small Companies
As reported in July, it was great news to hear that the cost of XBRL formatting for small US reporting companies have declined 45% since 2014.
The AICPA study surveyed price data from 1,032 small reporting companies for 2017 services, showing that 68.6% of companies paid $5,500 or less annually for fully outsourcing their XBRL filings.
Welcome to New Members of the Board of Directors
We are delighted to welcome three new members to the XBRL Board: Dato’ Zahrah Abd Wahab Fenner, Mr Philip Fitz-Gerald and Ms Olga Goncharova. We are also very pleased to announce that both Mr Michal Piechocki and HE Mohammed Al Hadari have had their terms extended by the XBRL International Member Assembly.
Quality, Depth and Managing Burden
Wise words from the Chair of the Supervisory Board of the European Central Bank, Mme. Danièle Nouy, who closed out last week’s ECB Statistics conference with a number of important points. First, the entire process of financial supervision is grounded in high quality information that comes from regulated firms. She said, in part: “We rely […]
