The recent European Securities and Markets Authority (ESMA) annual report on enforcement of corporate disclosure demonstrates the increased attention paid by regulators to Environmental Social and Governance (ESG) disclosures. The report presents the 2019 activities of ESMA and European accounting enforcers when examining the compliance of financial and non-financial statements provided by European issuers. Enforcement […]
The US Securities and Exchange Commission (SEC) has proposed updates to National Market System (NMS) regulation designed to improve the transparency, efficiency and fairness of market data.
Not sure how to account for Expected Credit Losses (ECL) in the current uncertain climate? IFRS Foundation have issued guidance in order to support a consistent application of IFRS 9, Financial Instruments. IFRS 9 sets out a framework for determining when a significant increase in credit risk on a financial instrument requires an Expected Credit […]
The Royal Netherlands Institute of Chartered Accountants (NBA) has issued an update that makes a number of changes to the Statement Generator and HRA 3. It is now possible to generate XBRL instances of the audit report for the financial statements of insurers, banks, and pension funds. Read more and see other planned updates here (in […]
We’re delighted to announce that a number of software products have met the stringent criteria required to gain XBRL Certified Software status. Congratulations to Reportix, ABZ Reporting and Workiva respectively on the certification of the following products: CellStore by Reportix, a drop-in database solution for XBRL and iXBRL which helps you take control of your data management, […]
The US Securities and Exchange Commission (SEC) has published a draft update for 2020 to the Document and Entity Information (DEI) taxonomy. Interested and affected parties are invited to provide comments on the draft DEI taxonomy via email to StructuredData@sec.gov before the deadline of 27 May 2020. Read more and access the taxonomy files here.
The COVID-19 pandemic has brought on fast and dramatic changes that have been challenging for people and businesses at all ends of society and the economy. Small businesses, in particular, are facing unique pressures as populations self-isolate. Accountancy Europe has created a useful guide for accountants looking to help their Small and Medium Enterprise (SME) […]
As we have seen over the past few weeks, in response to difficult working and economic conditions caused by the COVID-19 pandemic many financial regulators around the world are taking action to ease the effects on business. In order to ensure banks can focus their full attention on the unfolding economic issues surrounding COVID-19, the […]
Extensible Enumerations is a powerful feature of XBRL that enables the creation of concepts that take a value from a pre-defined list.
The US Federal Energy Regulatory Commission (FERC), which switched to XBRL for a number of utilities reporting forms last year, has published a rule proposal to revise transmission incentive policies and extend XBRL to Form 730. In the proposal FERC notes that further adopting XBRL would allow the reporting of comprehensive, consistent, interoperable data, and would […]