The Financial Stability Institute (FSI) has published an Occasional Paper by Fernando Restoy on how regulation should encourage fair competition between traditional banks and new fintech and big tech players.
In January, the International Integrated Reporting Council (IIRC) published revisions to its International <IR> Framework designed to enable more decision-useful reporting. The changes follow an extensive consultation to review the framework, which identified areas for clarity and simplification.
XBRL International has published a new tutorial showing how the new xBRL-CSV specification can be used to handle a variety of common reporting scenarios. The tutorial walks readers through the features of the specification, explaining how CSV tables can be used to efficiently represent reporting data, and is accompanied by a set of example xBRL-CSV reports.
The XBRL Standards Board has approved a further Candidate Recommendation of the Open Information Model (OIM) suite of specifications. This latest release is expected to be the last prior to progressing to Proposed Recommendation status.
Ukraine is gearing up for XBRL-based financial reporting for the first time in 2021. With a new, tailored taxonomy and data collection system in place, the country is looking forward to improved reporting and structured financial data in a single electronic format that will be comparable and compatible with EU and international standards.
In more implementation news, we bring you an update from Oman, where progress towards XBRL-based reporting is well advanced and a series of stakeholder meetings is set to offer valuable training, discussion and feedback.
The International Financial Reporting Standards (IFRS) Foundation Trustees have announced their intention to produce a definitive proposal for global sustainability standards, including a roadmap with timeline, by the end of September 2021 – and the compass may point straight to the establishment of an international Sustainability Standards Board (SSB) along similar lines to the International […]
If you were a mouse would you tie a bell to the cat, or would you let someone else make it their job? The fable of “belling the cat” – wherein inaction ends in disaster for the mice – serves as starting point for Christine Lagarde, President of the European Central Bank (ECB), in her […]
How would Europe’s banks fare under seriously adverse conditions – for example if the Covid-19 pandemic is prolonged? We’re set to find out; on 29 January the European Banking Authority (EBA) launched the 2021 EU-wide stress test, and released the macroeconomic scenarios for the test.
In a further step in extending its Environmental, Social and Governance (ESG) activities and mandate under the Biden administration, the US Securities and Exchange Commission (SEC) has named Satyam Khanna as Senior Policy Advisor for Climate and ESG.
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