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Time to complete transition with LIBOR end dates in sight

March 12, 2021

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.

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EY survey offers insights into future of reporting

March 12, 2021

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.

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Vietnam to adopt IFRS reporting standards

March 12, 2021

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.

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IFRS Foundation announces strategic directions on sustainability

March 12, 2021

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.

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SEC announces Climate and ESG Enforcement Task Force

March 12, 2021

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.

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Europe proposes greater tax transparency for multinationals

March 12, 2021

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.

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ESMA proposes improvements to Transparency Directive

March 12, 2021

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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New software certification

March 12, 2021

We are very pleased to announce that CellStore from Reportix has been newly certified as review and consumption software within the family of XBRL Certified Software products.

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SASB XBRL Taxonomy now available for comment

March 5, 2021

The Sustainability Accounting Standards Board (SASB) has published its new SASB XBRL Taxonomy, now out for public comment. We encourage all with an interest in XBRL and the future of Environmental, Social, and Governance (ESG) reporting to submit feedback by 3 May 2021.

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Well prepared for implementation: An ESEF view from Sweden

March 5, 2021

As the first financial reports produced using the European Single Electronic Format (ESEF) are filed across Europe, we’ve been taking a little tour of the continent to find out how early implementation is unfolding – and this week we’re in Sweden.

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