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Technical Experts: Link Climate to Finance in Corporate Reports

January 18, 2019

 The EU is working to link finance and sustainability across the region through a number of related initiatives. Last week its Technical Expert Group (TEG) on Sustainable Finance published its draft report on climate-related disclosures. This report proposes climate related metrics recommended for inclusion in the European Commission’s (initially non-binding) guidelines for Non-Financial disclosure. The […]

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US energy regulator proposes XBRL based reporting

January 18, 2019

Late yesterday the US Federal Energy Regulatory Commission, the FERC, published a proposal to switch up from its aged Visual FoxPro based e-forms to an XBRL-based data collection system. The FERC was originally going to use custom XML, but after experimentation now proposes XBRL. The proposals point out that XBRL is purpose built for reporting, […]

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Structured Futures: What Next for Corporate Reporting?

January 18, 2019

In a succinct interview this week the Financial Reporting Lab spoke to the CFA Institute’s Mohini Singh to shed some light on how structured data is driving changes in corporate reporting. Singh outlines how essential the transparent, consumable information that XBRL data offers is to analysing and comparing financial statements of companies large or small. […]

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Data Democracy in the US

January 18, 2019

Encouraging news for transparency in the US this week as the Open, Public, Electronic, and Necessary (OPEN) Government Data Act was signed into law on 14 January. The sweeping, bipartisan legislation will make vast amounts of federal government data much more accessible and usable. It requires federal agencies, wherever possible, to release all non-sensitive information […]

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MiFID II Birthday Marks Rapid Changes in Research

January 18, 2019

A year on from the introduction of the European Union’s revised Markets in Financial Instruments Directive (MiFID II) there is growing pressure on the financial research industry. MiFID requires brokers to unbundle the provision of investment research from trading services, forcing fund managers to pay for it separately. Unsurprisingly, investors have become much more selective […]

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China Gets Tougher on Banks

January 18, 2019

The latest wave of penalties from China’s bank regulator suggests the country is taking a firm approach to bad debts, according to UBS research reported in Euromoney this week. The research shows that the number of bank fines issued by the China Bank and Insurance Regulatory Commission (formed in April 2018 after a merger of […]

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Don’t Forget to provide feedback on the IFRS Taxonomy Update

January 18, 2019

The 4 February deadline for commenting on the IFRS Foundation’s proposed taxonomy updates is fast approaching. First published in December 2018, the draft contains a number of proposed changes that aim to improve the quality of data reported using the Taxonomy and to make the IFRS Taxonomy easier to use. Measures to reduce tagging errors, […]

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Basel Committee Finalises Market Risk Framework

January 18, 2019

This week the Group of Central Bank Governors and Heads of Supervision (GHOS) endorsed the Basel Committee for Banking Supervision’s (BCBS) final revisions to the minimum capital requirements for the market risk standard. The newly approved market framework will come into effect on 1 January 2022. The minimum capital requirement framework in this area exists […]

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EC and Inline XBRL

January 11, 2019

Right at the end of 2018 the European Commission endorsed the technical standards (RTS) requiring Inline XBRL filings for IFRS annual reports for public companies from 2020.

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OIM and xBRL-JSON Progress

January 11, 2019

We were pleased to announce at the end of last year that new versions of the Open Information Model (OIM) and xBRL-JSON specifications have been released for public review. The release includes some significant improvements and simplifications to the xBRL-JSON representation, which provides an alternative representation for XBRL data. This is part of a larger XBRL International effort to modernise and simplify the standards and make XBRL data much easier to work with in modern software.

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