Down under can’t dodge digital much longer!
Australian and New Zealand securities regulators have been slow to embrace digital reporting, but the excuses are wearing thin. Chartered Accountants Australia and New Zealand has once again put XBRL on the table, pointing out that while global peers have been filing structured data for years, AU/NZ companies are still marooned in PDF-land.
On his recent visit, our CEO John Turner reminded audiences that the analogue mindset has run out of road. Investors, regulators and companies elsewhere are already living in a structured world, and Australian and New Zealand risk slipping further out of sight the longer they hold back. CA ANZ’s intervention adds weight to the growing chorus: digital reporting isn’t a “nice to have,” it’s overdue.
If you’ve been following our coverage, you’ll know the Productivity Commission has already floated mandatory digital reporting. Now the profession itself is calling for action, emphasising that voluntary digital reporting won’t cut it for consistent, comparable data.
Structured reporting is working around the world. The question is no longer whether Down Under will make the leap, but how quickly.
Read the full feature in Acuity here.
