The European Commission has adopted a proposal for a Corporate Sustainability Reporting Directive (CSRD), to amend and replace the current Non-Financial Reporting Directive (NFRD).
Head over to the Taggings section of the XBRL International website for a post from our CEO John Turner, reflecting on the future of reporting as glimpsed at the 2021 Data Amplified Virtual conference. The world is changing fast – in ways that will make reporting even more important.
In order to reflect new International Financial Reporting Standards (IFRS) disclosure requirements, the International Accounting Standards Board (Board) has published a proposed update to the IFRS Taxonomy 2021.
Those of our readers who attended Data Amplified will know that Revathy Ramanan, XBRL International’s Guidance Manager, wowed the audience with a live demonstration, building multiple analytical reports on the fly. She has revisited her conference session with a new blog post on the Taggings section of our website, ‘xBRL-JSON makes report consumption easier!’
On 17 April 2021, Gary Gensler was sworn into office as a Member of the US Securities and Exchange Commission (SEC), which he joins as Chair. He was nominated for the post by President Joe Biden early in the year, and confirmed by the US Senate on 14 April.
The XBRL US Data Quality Committee has published its 15th Ruleset for a 45-day public review and comment period, which closes on 2 June 2021. The draft ruleset includes eight new rules specific to US GAAP filers, and one for IFRS filers.
The European Banking Authority (EBA) has published an erratum for the technical package on its reporting framework 3.0 phase 2.
An article published in Forbes on 15 April, titled ‘The SEC’s Technology Modernization Is Accelerating – Are You Ready?’ calls out XBRL as one of the most important aspects of modernisation efforts at the US Securities and Exchange Commission (SEC).
The Bank of Japan has begun proof-of-concept trials on its central bank digital currency (CBDC), the digital yen. Phase 1 aims to test the technical feasibility of the CBDC, and will run for one year to March 2022.
Reporting standards tend to be hypothetical and without redress and enforcement consequences for misstatements.
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