The European Banking Authority has published a revised list of validation rules included in its Implementing Technical Standards (ITS) on supervisory reporting.
The Tokyo Stock Exchange (TSE) has launched a new web portal, JPX English Disclosure GATE, to promote better English disclosure from listed companies and increase investment opportunities for overseas investors.
The European Financial Reporting Advisory Group (EFRAG) has published two milestone reports. They set out recommendations to the European Commission (EC) on the development of EU sustainability reporting standards and on changes to EFRAG’s governance and funding if it were to expand its remit to non-financial standards.
The UK’s Financial Conduct Authority (FCA) has announced the dates when panel bank submissions for all LIBOR settings will cease, after which representative LIBOR rates will no longer be available. This is an important step towards the end of LIBOR and the transition away from discredited interest rate benchmarks of this type, and provides valuable certainty.
EY has published the results of its ‘2020 EY Global Financial Accounting and Advisory Services (FAAS) corporate reporting survey,’ with a number of interesting insights into how the reporting landscape is changing. It is based on responses from more than 1,000 CFOs, financial controllers and other senior finance leaders.
Good news for financial reporting from Vietnam, where the Minister of Finance has approved the introduction of International Financial Reporting Standards (IFRS), in line with a previously announced schedule. According to the implementation scheme, IFRS reporting will begin on a voluntary basis from 2022, with mandatory application after 2025.
In their latest update on the development of international sustainability reporting standards and the establishment of a Sustainability Standards Board (SSB), the International Financial Reporting Standards (IFRS) Foundation Trustees have announced their views on strategic direction for the board.
In further Environmental, Social and Governance (ESG) news from the US Securities and Exchange Commission (SEC), the agency has announced the creation of a Climate and ESG Task Force in its Division of Enforcement.
Grinding along in the background since 2016 have been a range of measures that seek to use disclosure mechanisms to rebalance various tax arrangements. This week the European Council has approved proposed measures to enhance corporate transparency of big multinational companies, as part of its action plan on reforms to the international corporate tax system.
The European Securities and Markets Authority (ESMA), has written to the European Commission with its proposals to improve the EU Transparency Directive following the Wirecard case.
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