On 14 October, the White House published ‘A Roadmap to Build a Climate-Resilient Economy’ for the US. It outlines both a climate risk accountability framework and, based on these guiding principles, a whole-of-government implementation strategy to address climate-related financial risk.
The European Securities and Markets Authority (ESMA) has announced the appointment of its next Chair. Ms Verena Ross will take up the role on 1 November 2021.
The Financial Accounting Standards Board (FASB) has issued proposed technical and other conforming changes to the US GAAP Financial Reporting Taxonomy, along with accompanying release notes, for public comment.
The Task Force on Climate-related Financial Disclosures (TCFD) has published its 2021 Status Report. It finds that disclosure in line with the TCFD’s recommendations has accelerated significantly, growing by 9% in 2019–20.
We are absolutely delighted to announce that XBRL International’s suite of new specifications, among them xBRL-CSV and xBRL-JSON, has reached final Recommendation status.
A highly useful new report from the UK Financial Reporting Council’s Financial Reporting Lab aims to support companies in the move towards high-quality digital reporting.
We were interested this week to read reflections on the changeover to the European Single Electronic Format (ESEF) and Inline XBRL for financial reporting in Europe, from members of the French Society of Financial Analysts (SFAF, La Société Française des Analystes Financiers) Evaluation Commission.
The XBRL US Data Quality Committee (DQC) recently approved nine new validation rules, following public review and comment. This latest instalment of the Committee’s valuable ongoing work takes the total number of freely available DQC-approved rules to 83, applying to many hundreds of reporting concepts.
For those interested in the development of the proposed International Sustainability Standards Board (ISSB), a webcast from the International Financial Reporting Standards (IFRS) Foundation is important viewing.
Just last week we posted on rounding of figures in reports, and how it can cause validation processes to flag calculation inconsistencies that – while they should be checked – should not be a cause for concern, since there is (generally) no underlying error.
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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.
