While the data gleaned from regular, structured reporting is widely known to be a critical part of effective regulation, those requirements regularly come across one stumbling block: complaints about cost.
The Filing Manual Working Group has been looking at the issues associated with the publication of different filing rules by regulators that seek to permit (but constrain) extension taxonomies.
Since 2015 the international regulatory Monitoring Group has been looking into a range of aspects associated with independence and governance around international standards for auditing with a review of the audit standard setting process.
The European Commission (EC) continued making headway on non-financial reporting this week with an announcement that the European Financial Reporting Advisory Group (EFRAG) is to develop recommendations for non-financial reporting standards.
The European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) have called for further standardisation of data and the use of digital entity identifiers in their responses to the European Commission’s consultation on a new EU Digital Finance Strategy.