This is the first in a series of guest posts from Mohini Singh, ACA, Director, Financial Reporting Standards, CFA Institute. Despite its presence and use for several years now, XBRL has not achieved its full potential for either investors or companies in the United States. One reason is companies continue to see structured data as […]
Guest Post from Hennie Viljoen, XBRL Project Manager at the CIPC At present the Companies and Intellectual Property Commission of South Africa (CIPC) receives all Annual Financial Statements (AFSs) in PDF format, which is obviously an unstructured format. This means analysis of AFS documents has to be done one-by-one by a human analyst. Humans have to […]
Did you know that iXBRL allows enormous flexibility in what is presented in a report?
Fifteen years ago, we used to talk about digital as a model of the real world. Now, digital is the real world. Somehow, the message has become the medium. Kodak didn’t see Instagram coming. HMV never saw Spotify in the rear view mirror. And if, fifteen years ago, you’d told the editor of the Economist […]
In a substantial speech to the Northwestern University’s 44th Annual Securities Regulation Institute symposium, recently retired SEC Chair Mary Jo White provided an interesting summary of her perspective on the achievements of that regulator during her term. She also provided some comments on the work that lies ahead. Chair White’s retirement as the 31st SEC Chair […]
For anyone involved in digitisation of reporting at a government level or that is embracing standardisation to simplify reporting across a supply chain, the principle of Standardised Business Reporting, or SBR is something they will come across, but perhaps need to understand at a deeper level. Now there is a book aimed at data architects and […]
A widely reported briefing note from Citi this week, entitled “Digital Disruption Revisited” suggests that RegTech startups are harnessing Artificial Intelligence to cut significant costs — yes, mostly people — out of compliance activities within Financial Services firms. With the average compliance costs in the banking sector having doubled since 2008, it would make sense to automate […]
Yves Mersch, a Member of the European Central Bank’s Executive Committee and former Governor of the Central Bank of Luxembourg gave a speech this week in Helsinki, describing some of the opportunities and challenges that central banks face as they consider the possibility of issuing an official digital currency. A fiat version of a bitcoin, […]
A very interesting report from FINRA was released on Wednesday, identifying areas that need to be considered by Securities Industry participants that are exploring the use of DLT, or Distributed Ledger Technology, to replace traditional centralised infrastructure. The paper concentrates on clearing and settlement and asks a series of questions about aspects of the ongoing […]
With so much high quality structured data becoming available, there’s still a lot of ground to be gained in more “traditional” types of analytics and definite possibilities for significant automation and digitisation even without the application of AI.