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IFAC urges UK to holistic pursuit of audit quality

July 23, 2021

The International Federation of Accountants (IFAC) has submitted a thought-provoking response to the UK in its response to the UK Department for Business, Energy & Industrial Strategy (BEIS) consultation on wide-ranging reforms aiming to restore trust in the country’s corporate reporting, audit and governance regime.

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Quality and comparability: G20 backs FSB and IFRS Foundation on climate reporting standards

July 16, 2021

The G20 Finance Ministers and Central Bank Governors have given a ringing endorsement to sustainability disclosures and the development of international standards.

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G20 endorses carbon pricing as transition tool for sustainable economy

July 16, 2021

The recent communiqué from the G20 Finance Ministers and Central Bank Governors includes the use of carbon pricing mechanisms and incentives among the set of tools available to facilitate the shift to a more sustainable economy, alongside its support for global reporting standards discussed here.

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XBRL US says AI systems need quality data

July 16, 2021

Our colleagues at XBRL US have published an interesting comment letter addressing the question of why standardised, machine-readable data is essential for reliable, useful outcomes from artificial intelligence (AI).

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ESMA updates ESEF Reporting Manual

July 16, 2021

The European Securities and Markets Authority (ESMA) has published the latest version of its ESEF Reporting Manual, expanding existing guidance and reflecting developments in the technical specifications.

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EBA releases phase 2 of its 3.1 reporting framework

July 16, 2021

The European Banking Authority (EBA) has issued phase 2 of its 3.1 reporting framework, providing standard specifications to support implementation, following phase 1 in May.

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IFRS discusses tagging of implicitly reported concepts and data consumption problems

July 16, 2021

What happens when some values go untagged? If we know A and B, can we simply assume C?

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Regulatory reporting, stress testing and financial stability in Europe in the face of Covid

July 16, 2021

The European Insurance and Occupational Pensions Authority (EIOPA) has published a Financial Stability Report examining key risks in the European insurance and pension sector.

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Preparation, implementation and assurance: ESEF in practice

July 16, 2021

If you missed Accountancy Europe’s 7 July webinar on ‘ESEF in Practice,’ you can catch up on the event in full. It focused on experiences of preparing for and implementing the European Single Electronic Format (ESEF).

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SEC Commissioners offer remarks on ESG

July 16, 2021

Several members of the US Securities and Exchange Commission (SEC) made statements at a recent meeting of the Asset Management Advisory Committee, offering views on environmental, social and governance (ESG) concerns and other issues.

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