“Digital data is a key component of a well-functioning capital market,” say the UK’s Financial Reporting Council (FRC) and Financial Conduct Authority (FCA).
In case you missed it and of particular interest to vendors operating in the UK, in October the Financial Reporting Council (FRC) published its XBRL Tagging Guide for the UKSEF Taxonomy Version 1.0.
The Monetary Authority of Singapore (MAS) has announced that it will pilot four interoperable digital platforms to address the financial sector’s need for good data on sustainability.
We enjoyed a recent item in Financial Director, reporting on concerns from the Financial Reporting Council (FRC). It has found that climate and other environmental, social and governance (ESG) commitments outlined in narrative and financial reporting do not always match.
Among the notable decisions emerging from the COP 26 UN Climate Change Conference, and likely to exert an important influence on corporate reporting, was a final agreement on the Paris Rulebook.
“The bottom line is that XBRL makes data more useful,” says SEC Commissioner Caroline Crenshaw
On 10 November, XBRL US held its online Investor Forum 2021: Data that Delivers, held in partnership with Baruch College’s Zicklin School of Business, CFA Institute and CFA Society New York.
The US Securities and Exchange Commission (SEC) has unanimously voted to propose updates to its filing rules for funds, investment advisers, issuers, and others. These would mandate electronic submission of a number of forms and amend some to require structured data reporting.
We really enjoyed the clear explanations and South African perspective in a recent article in Accountancy SA, published by the South African Institute of Chartered Accountants (SAICA). Appearing in the November 2021 issue, it tackles the questions of what XBRL is and why it is important to accountants.
What are you doing on 22–24 November? If you are interested in reporting in Europe, or Inline XBRL implementation, you may wish to add the 29th XBRL Europe Digital Week – focusing on the European Single Electronic Format (ESEF) – to your diary.
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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.
