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Block Tagging: Your Comments Needed!

June 15, 2024

The XBRL Standards Board has published a Working Group Note on the topic of “block tagging” in Inline XBRL reports. Block tagging is the practice of tagging text content in a report with Inline XBRL tags.

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GRI opens public consultation on new XBRL taxonomy

June 15, 2024

This week the Global Reporting Initiative (GRI) launched a public consultation for its new GRI Sustainability Taxonomy draft, which will be open until 11 August 2024. This initiative aims to gather feedback from XBRL experts and sustainability specialists on the design of the new taxonomy.

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EBA unveils implementation plan for data point model 2.0

June 15, 2024

At the start of June the European Banking Authority (EBA) announced its plan for implementing the Data Point Model (DPM) 2.0 as part of its Reporting Release 4.0 framework. This important initiative helps progress towards more integrated regulatory reporting, and is aimed at enhancing data granularity and improving data management practices.

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FSB highlights importance of data quality in AI for financial stability

June 15, 2024

US Treasury Official Nellie Liang, Chair of the Financial Stability Board (FSB) Standing Committee on Assessment of Vulnerabilities, addressed the OECD-FSB Roundtable on Artificial Intelligence in Finance. Liang emphasised the transformative potential of AI in finance, however she also highlighted the need for robust data quality to manage the risks associated with AI deployment.

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XRB advocates for mandatory digital financial reporting in New Zealand

June 15, 2024

The New Zealand External Reporting Board (XRB) recently published a position paper, outlining the many benefits of digital financial reporting and highlighting its widespread adoption among New Zealand’s trading partners.

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SEC addresses disclosure for foreign companies in US markets

June 15, 2024

On 6 June, at the Harvard Law School Program on International Financial Systems, Commissioner Mark T. Uyeda of the US Securities and Exchange Commission (SEC) spoke on the evolving landscape of disclosure requirements for foreign companies accessing US capital markets.

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ESAS and ENISA strengthen cybersecurity cooperation

June 15, 2024

The European Supervisory Authorities (ESAs) recently announced that they have signed a multilateral Memorandum of Understanding (MoU) with the European Union Agency for Cybersecurity (ENISA).

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Narrative disclosure analysis with GPT-4: unlocking new insights

June 9, 2024

XBRL International’s own Revathy Ramanan dives into the potential of GPT-4 for analysing narrative disclosures in XBRL data this week. As machine learning and generative AI continue to advance, they present new opportunities for understanding complex business performance data.

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ESAs call for better supervision to fight greenwashing

June 9, 2024

This week the European Supervisory Authorities (ESAs) published their final reports to close an investigation into greenwashing. With concern about greenwashing growing in tandem with rising interest in sustainable investments, it’s unsurprising that the results emphasise that supervision of ESG claims needs to be strengthened.

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EFRAG finalises three ESRS implementation guidance documents

June 9, 2024

Last week EFRAG published the final versions of its first three ESRS Implementation Guidance (IG) documents: EFRAG IG 1 Materiality Assessment, EFRAG IG 2 Value Chain, and EFRAG IG 3 ESRS Datapoints.

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