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.
Japan’s Financial Services Agency (FSA) is likely to require mandatory climate disclosures as early as April next year, covering carbon emissions as well as other climate-related risks.
The International Monetary Fund and the Financial Stability Board have published their sixth progress report on the G20 Data Gaps Initiative (DGI), counting down to its conclusion at the end of 2021.
The UK Financial Reporting Council (FRC) has published its final suite of updated taxonomies for 2022, having released them for consultation in August. The most notable change is the integration of the Streamlined Energy and Carbon Reporting (SECR) taxonomy, used for mandatory emissions reporting.
The Bank for International Settlements Innovation Hub has recently reported on Phase 1 of its Project Ellipse. This is a proof of concept intended to examine the potential for insights-based and data-driven supervision using an integrated regulatory data and analytics platform.
Financial Stability Board (FSB) Chair Randal K. Quarles wrote this week to G20 Finance Ministers and Central Bank Governors, ahead of their meeting on 13 October.
Not all issues flagged by XBRL validation processes indicate a problem in the report. We revisit calculation inconsistencies to see how they can be caused by simple rounding of figures.
XBRL looks set to be deployed for reporting on funds stewardship in the US, facilitating access to information on how asset managers are voting at AGMs.
Another potential application of XBRL in the US took a step towards reality on 24 September, when President Biden signed the Congressional Budget Justification Transparency Act of 2021 into law.
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