The 2020/21 reporting season is set to bring a number of new challenges for businesses. With Covid-19 disrupting business-as-usual world-wide, and Brexit causing uncertainty in Europe, The UK Financial Reporting Council’s (FRC’s) Director of Regulatory Standards, Mark Babington, has some advice for preparers.
The IFRS Foundation has published proposed updates to its taxonomy. The proposed changes aim to support the high-quality tagging of information presented in primary financial statements.
Ahead of the 2020/21 reporting cycle, the UK’s Financial Reporting Council (FRC) has published its Annual Review of Corporate Reporting, revealing the top ten areas the FRC has identified as requiring improvement.
The FASB staff this week released proposals on improvements for the US GAAP Taxonomy on Leases and Statistical Disclosures for Banks and Savings and Loan Registrants. The details, together with details on when and how to comment on the proposals are here.
An article from the American Bankers Association this week underlines how important good quality data is to compliance and anti-money laundering (AML) efforts.
Regulatory Technology, or RegTech, could help transform today’s regulatory landscape, drawing on similar advances as FinTech to improve the efficiency, utility and cost of supervision.
To achieve the world’s current carbon-neutral goals, we need high-quality non-financial data in order to assess businesses’ impact on environmental and social matters.
Confine people to their homes; shut the shops; spending goes down; GDP suffers. It may seem like common sense that stronger Covid-19-related restrictions, while essential for public health, would result in a lower GDP, but anecdata isn’t real data.
The US Securities and Exchange Commission (SEC) has never been shy of enforcement action. It’s very encouraging to see evidence that the Commission’s enforcers are increasingly relying on advanced analytics.
Following the European Commission’s decision that the XBRL mark-up within ESEF documents must be subject to audit, Germany’s Institute der Wirtschaftsprüfer (IDW), or Institute of Public Auditors, has published draft audit standards for ESEF.
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XBRL International is a global not for profit operating in the public interest. Our purpose is to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting.
