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EFRAG reaches another milestone with draft ESRS standards

November 25, 2022

This week the European Financial Reporting Advisory Group (EFRAG) reached a major milestone, releasing the first set of (almost) final draft European Sustainability Reporting Standards (ESRSs). Their publication follows a public consultation this summer.

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Watch again: EAA-EFRAG-IASB workshop on digital reporting

November 25, 2022

If you missed last week’s popular European Accounting Association (EAA), European Reporting Advisory Group (EFRAG), and International Accounting Standards Board (IASB) workshop on digital financial reporting last week, the recording is now available.

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New board members complete EFRAG governance structure

November 25, 2022

The European Financial Reporting Advisory Group (EFRAG) made several appointments to its governance structure this week, completing both the Financial Reporting Board (FRB) with the appointment of Wolf Klinz as chair, and the Sustainability Reporting Board (SRB) with Patrick de Cambourg appointed as chair.

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Switzerland mandates machine-readable climate disclosures

November 25, 2022

Further progress on transparency in sustainability reporting this week as Switzerland adopted an ordinance requiring mandatory, machine-readable climate disclosures based on the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

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IFAC highlight need for more comparability in climate-related reporting

November 25, 2022

A recent report by the International Federation of Accountants (IFAC) found inconsistency and incomparability in existing climate-related reporting. The report’s conclusions strongly support the global movement towards improved climate-related disclosure.

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IASB to increase focus on digital information

November 25, 2022

Following feedback to the Third Agenda Consultation, designed to help the International Accounting Standards Board (IASB) define its priorities for the next five years, the IASB will slightly increase its focus on digital financial reporting.

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India explores possibilities for digital municipal disclosures

November 25, 2022

In a talk at last week’s XBRL Asia Round Table in Mumbai, Srikanth Viswanathan, the CEO of the Janaagraha Centre for Citizenship and Democracy, outlined the vital role that data about municipalities plays in the next steps for key infrastructure development in India.

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Tomorrow’s Accountant

November 25, 2022

On Monday, our CEO John Turner gave a talk at the World Congress of Accountants in Mumbai as part of the “Technology and the Future” session. The session concentrated on new skills and capabilities that members of the accounting and audit profession, working both in industry and in practice, will need going forward.

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XBRL US Data Quality Committee publishes 20th Rule Set

November 25, 2022

The XBRL US Data Quality Committee (DQC) has published its 20th Rule Set, including five proposed rules for corporate issuers, and two proposed rules that are specific to business development companies (BDC).

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SEBI: Disclosures must be easy to consume – meaning, digital

November 18, 2022

Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch addressed XBRL Asia Round Table in Mumbai, describing the Indian securities regulator’s approach to transparency as disclosure driven, but with the needs of users firmly in mind.

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