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Blockchain and XBRL: The Myth

October 23, 2020

This is a guest post by Mohini Singh, ACA, Director Financial Reporting Policy at CFA Institute. Originally published here. Currently, many jurisdictions around the world require public companies to produce financial reports using XBRL. The myth that blockchain could replace XBRL in the production of financial information is incorrect. Blockchain is not a data standard. […]

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Detaching XBRL Formula Rules from their XML roots

October 20, 2020

One of the most powerful features of XBRL is the ability to embed business validation rules into a taxonomy in the form of XBRL Formula Rules. By embedding validation rules, the taxonomy becomes a single, standardised mechanism for defining an XBRL reporting requirement, complete with translatable labels, datatype definitions, links to authoritative reference materials and […]

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Can Blockchain help Distribute Financial Data?

September 11, 2020

This is a guest post by Mohini Singh, ACA, Director Financial Reporting Policy at CFA Institute. Companies generally have regulatory filing requirements to multiple parties within and across different jurisdictions – and investors are also looking to use data from varied sources. Europe is currently testing blockchain as a distribution mechanism, in the hope that […]

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XBRL in South Africa: An Update

July 24, 2020

This is a guest post from The South African Companies and Intellectual Property Commission. For a number of regulatory bodies around the world, the monitoring and oversight roles they play are made more complex by the changing context in which they function. The Companies and Intellectual Property Commission is one such body (a South African […]

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ESEF Tools Widely Available

June 17, 2020

XBRL International has conducted a survey of XBRL Certified Software™ vendors that offer report creation solutions for ESEF. ESEF is the European Single Electronic Format, a new requirement for public companies in the EEA and UK. In the UK ESEF is part of the Disclosure Guidance and Transparency Rules sourcebook. All public issuers that report […]

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The Need for Contractual Obligations Tables Amid Covid 19

May 14, 2020

This is a guest post by Ms Mohini Singh, ACA, Director Financial Reporting Policy at CFA Institute. CFA Institute and the Council of Institutional Investors responded to the Securities and Exchange Commission’s Proposed Rule: Management’s Discussion and Analysis, Selected Financial Data, and Supplementary Financial Information. Many of the Commission’s proposals recommend the elimination of information that […]

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The Matter with “Critical Audit Matters”

March 13, 2020

This is a guest post by Ms Mohini Singh, ACA, Director Financial Reporting Policy at CFA Institute. Beginning in 2019 in the United States, certain public companies’ audit reports began to contain new information — critical audit matters, commonly referred to as CAMs. A CAM is any matter arising from the audit of a company’s […]

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Working with xBRL-JSON. An experiment!

February 27, 2020

XBRL’s new Open Information Model is a strategic initiative to simplify and modernise our standard. The OIM enables the free exchange of XBRL data across a range of different syntaxes. We are used to thinking of XBRL as an XML variant, but the OIM allows us to instead understand XBRL as a syntax-independent standard that […]

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Missing: A Single Electronic Access Point for the European Single Electronic Format

December 12, 2019

This is a guest post by Ms Mohini Singh, ACA, Director Financial Reporting Policy at CFA Institute. Technology to Improve Democratization of Information: Our Historical Efforts CFA Institute has long-supported technology to improve the accessibility of information for investors. Before the implementation of the US SEC EDGAR (Electronic Data Gathering, Analysis, and Retrieval) system in […]

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Leslie Seidman Keynote Presentation at Data Amplified 2019

November 7, 2019

Leslie Seidman first became involved with XBRL as the Chairman of the FASB, where she oversaw the development of the US GAAP Taxonomy. She also served on the board of Financial Executives International, where she regularly heard member companies say, “No one uses our XBRL filings!” Listen now to hear what happened next.

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