It’s been said that artificial intelligence – AI – replaces the need for structured data, but we believe that idea could not be further from the truth. It is certainly possible to skip digital tagging and use AI to get answers out of unstructured data, but they are often not very good answers.
What’s in a name? The US Securities and Exchange Commission (SEC) is adopting amendments, including introducing Inline XBRL tagging, to the Fund Names Rule (rule 35d-1). The aim is to reduce the risk of investment companies misleading investors with misnomers not aligned with the actual investments held.
The International Federation of Accountants (IFAC) has published a broad examination of sustainability disclosure and assurance practices beyond the G20, showing a need for alignment and assurance.
Earlier this month the European Banking Authority (EBA) launched its annual EU-wide transparency exercise, with the aim of enhancing risk monitoring, vulnerability assessment, and the promotion of market discipline.
Jean-Paul Servais, Chair of the International Organization of Securities Commissions (IOSCO), recently addressed the EUROFI 2023 Financial Forum, highlighting IOSCO’s plans to support the transition towards sustainability-related digital data reporting via a capacity building program.
The US Securities and Exchange Commission (SEC) has proposed rule and form amendments aimed at enhancing access to and management of accounts on the SEC’s EDGAR system. These changes are part of the broader initiative known as ‘EDGAR Next,’ which aims to improve filer access and account management.
Developers working on software for validating Interactive Data before EDGAR submissions now have a powerful tool at their disposal: the Interactive Data Public Test Suite (Version 67-230918).
Deep learning models, often the bedrock of machine learning and artificial intelligence, are playing an increasingly large role in financial analysis. These models, while powerful, lack transparency – often known as ‘black boxes’ due to the opacity of their algorithms.
The US Financial Accounting Standards Board (FASB) staff is seeking public input on proposed improvements to the 2024 SEC Reporting Taxonomy (SRT). These enhancements cover new elements, like disclosures about share repurchase programs and insurance, and updates to references across various topics.
The European Single Electronic Format (ESEF) made its debut in 2021, marking a significant milestone in the digital transformation of financial disclosures for European companies. ESEF’s introduction has opened new avenues for accessing issuer data, fundamentally altering the landscape for financial professionals.
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XBRL International is a global not for profit operating in the public interest. Our purpose is to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting.
