FRC fixes 2023 taxonomy with re-release
The UK Financial Reporting Council (FRC) has re-released an updated version of the 2023 taxonomy suite following an issue.
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FAF implements free access to online standards
Following last month’s announcement that the US Financial Accounting Foundation (FAF) will upgrade existing free access to the online version of its standards, FAF has now implemented the change.
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EFRAG TEG gets new acting chair
The European Financial Reporting Advisory Group Financial Reporting Technical Expert Group (EFRAG FR TEG) has renewed the mandate of six of its members, and welcomed Jens Berger as Acting Chair.
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Calc 1.1 reaches Recommended Status
This week the XBRL International Board of Directors voted unanimously to finalise the Calculations 1.1 Specification and move it to Recommendation status.
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ISSB standards move to final drafting stage
Last week The International Sustainability Standards Board (ISSB) voted on the technical substance of its sustainability standards. With the content of the standards fully agreed, the ISSB can now move onto the final stage in preparation: drafting. A January 2024 implementation date for Sustainability Disclosure Standards S1 and S2 was also agreed during the meeting.
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Israel transitions to XBRL
Israel takes another step towards full XBRL-based digital reporting this week, as the Israel Securities Authority (ISA) dropped requirements to publish financial reports in PDF format.
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SEBI introduces XBRL issue summary document for IPOs
As part of the Securities and Exchange Board of India’s (SEBI) ongoing efforts to introduce structured data in stock exchanges and for business information, last week the regulator published a summary document for filing Initial Public Offer (IPO) information in XBRL.
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IOSCO welcomes ISSB move to final stage of sustainability standards
The International Organization of Securities Commissions (IOSCO) published a statement welcoming the International Sustainability Standards Board (ISSB)’s progress into the final stage of developing its first sustainability disclosure standards (above).
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SEC introduces XBRL for central matching service provider reports
This week the US Securities and Exchange Commission (SEC) finalised the new rule, Shortening the Securities Transaction Settlement Cycle, which will require Inline XBRL tagging for annual reports filed by central matching service providers (CMSP).
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FASB publishes proposed GAAP taxonomy style guide
The US Financial Accounting Standards Board (FASB) staff recently published a new proposed GAAP Taxonomy Style Guide. The guide is designed to help GAAP Taxonomy users understand the presentation and disclosure requirements of the FASB Accounting Standards Codification (ASC), and to illustrate the role and format of references related to elements included in the GAAP Taxonomy.
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