A recent article on Cities Today examines how local governments in the US can maximise federal funding by using (machine-readable) data. With the US government investing significantly in municipal infrastructure, local governments are leveraging data to understand their needs, and to make smarter decisions about how to spend funding.
XBRL International has recently published two new guidance items describing best practices in managing and communicating changes to taxonomies. As taxonomies are regularly updated, it’s important that involved stakeholders follow best practices to ensure that the transition to the new taxonomy version is well prepared for and unfolds smoothly.
Interested in taking an active role in driving digital sustainability reporting forward in Europe? The European Financial Reporting Advisory Group (EFRAG) is seeking candidates with professional experience with XBRL to join its European Sustainability Reporting Standards (ESRS) Digital Reporting Consultative Forum (ESRS DRCF).
The Financial Accounting Standards Board (FASB) Taxonomy recently published a proposal for meta model relationships, intended to convey base-level accounting model relationships in XBRL.
Filers based in the UK should be aware of a recent update from HM Revenue & Customs (HMRC) indicating that due to a technical problem, HMRC are unable to accept accounts tagged with the Financial Reporting Council 2022 Taxonomy.
Environmental social, and governance (ESG) reporting was a key topic at last month’s AICPA & CIMA Conference on Current SEC and PCAOB Developments. The US Securities and Exchange Commission (SEC) is currently developing its proposed rule on The Enhancement and Standardization of Climate-Related Disclosures for Investors.
Yesterday afternoon the UK’s securities regulator, the Financial Conduct Authority (FCA), published a consultation paper on its approach to the publication and maintenance of taxonomies relevant to filers with securities in UK markets.
The International Auditing and Assurance Standards Board’s (IAASB) Proposed Strategy and Work Plan for 2024‒2027 includes a mention of exploring a new standard on XBRL.
The XBRL Standards Board has approved a number of additional entries to the Link Role Registry, designed to enhance XBRL accounting taxonomies. The new additions enable taxonomies to convey additional properties, or structured information, about the accounting meaning of concepts and dimensions in the taxonomy.
This year European issuers filing with the European Single Electronic Format (ESEF) will be required, for the first time, to use block tagging to mark up the notes in their financial statements. This has implications, and presents certain challenges, for software providers, filers, and auditors alike.
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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.
