The US Financial Accounting Standards Board (FASB) has produced a new fact sheet in its ‘FASB in Focus’ series, titled ‘XBRL: What is it? Why the FASB? Who uses it?.’ It’s a great introduction to XBRL and digital reporting, particularly from the US perspective.
Do you use artificial intelligence (AI) to analyse data? Are robots your new best friends, or do you have concerns about the risks and challenges? If you’re in the US, the government wants to hear from you.
The Depository Trust & Clearing Corporation (DTCC) has outlined a new three-pronged plan for greater global data harmonisation in derivatives trade reporting requirements. It aims to bring greater transparency and better monitoring of systemic risk to the over-the-counter (OTC) derivatives market, reflecting goals envisioned by the G20.
The People’s Bank of China (PBOC) has proposed a set of global rules for central bank digital currencies (CBDCs), covering how they can be used around the world as well as monitoring and information sharing.
The XBRL Standards Board has approved the publication of an update to the XBRL Formula Functions Registry. This update includes the addition of new draft functions to support the planned adoption of xBRL-CSV by a number of regulators around the world.
The World Economic Forum (WEF) has published a letter to CEOs in support of the organisations working to achieve a globally accepted set of environmental, social and governance (ESG) reporting standards, particularly the creation of a Sustainability Standards Board (SSB) being led by the International Financial Reporting Standards (IFRS) Foundation.
There is, as yet, no easy way to find European Single Electronic Format (ESEF) submissions and the valuable information they contain – although progress towards the European Single Access Portal (ESAP) is likely to change that over time. So XBRL US has started a collection point of its own to help data consumers access the filings.
Interested in the European Single Electronic Format (ESEF)? If so, you’ll want to keep 27-29 April free. XBRL Europe, in collaboration with some of the European XBRL jurisdictions, is organising a series of short online events dubbed the ‘27th XBRL Europe digital week on ESEF.’
The US Federal Energy Regulatory Commission (FERC) is continuing its trailblazing transition to XBRL-based reporting for energy utilities. It has announced that on 15 April 2021 the XBRL taxonomies, validation rules, and rendering files needed for the rollout will be updated to Release 1.5, and will be available in its Yeti viewer.
Following its adoption of this year’s updated taxonomies from the US Financial Accounting Standards Board (FASB), the Securities and Exchange Commission (SEC) has updated EDGAR, its Electronic Data Gathering, Analysis, and Retrieval system.
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