The European Insurance and Occupational Pensions Authority (EIOPA) has published today its revised Guidelines on the Legal Entity Identifier (LEI).
We are delighted to announce that in 2021 two products from Semansys were recognised by our official certification programme as XBRL Certified Software.
Debate on sustainability reporting in Europe continues. On 31 December, the EU Council approved the EU Taxonomy Climate Delegated Act, part of the EU Action Plan on Sustainable Finance, enabling the regulation to take effect as of 1 January this year.
Did you catch our story in December on the forthcoming introduction of Inline XBRL-based digital tax reporting for business by the Hong Kong Inland Revenue Department (IRD)?
The European Insurance and Occupational Pension Authority (EIOPA) has launched a consultation on draft application guidance on carrying out assessments of climate change materiality and using climate change scenarios in the Own Risk and Solvency Assessment (ORSA).
The International Financial Reporting Standards (IFRS) Foundation has published a proposed update to the IFRS Taxonomy 2021.
This year we celebrated new ways to use the XBRL standard, with xBRL-JSON and xBRL-CSV reaching final recommendation status in October as part of our new suite of specifications. xBRL-CSV is ideally suited for collecting huge quantities of granular data, making it an exciting tool for today’s regulators, while xBRL-JSON is designed to simplify analysis and make XBRL data easy to use.
2021 has in many ways been the “year of ESG” – of environmental, social and governance issues – and has seen several crucially important developments, particularly in terms of sustainability reporting standards and requirements.
2021 has seen the initial implementation of the Inline XBRL-based European Single Electronic Format (ESEF) for financial reporting across Europe. This shared, machine-readable format aims to make European data consistent and comparable and offers potentially important insights.
It is rapidly becoming clear that Inline XBRL is now the new normal for corporate reporting. The European Single Electronic Format (ESEF), discussed elsewhere in this newsletter, might be this year’s biggest attention-grabber but it is by no means the only game in town.
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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.
