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DQC Publish 11th Ruleset

November 22, 2019

This week the Data Quality Committee (DQC) published its 11th Ruleset for a 45-day public exposure period, set to end January 3, 2020.

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Survey Dives into KAMs in the Banking Sector

November 22, 2019

An Accountancy Europe survey of Key Audit Matters (KAMs) reporting has found a slight dip in the number of KAMs reported by European banks – although numbers are still significantly higher than the average for all industries. KAMs became mandatory with the new and revised auditor reporting standards which came into effect for audits of […]

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TCFD Form Advisory Group for Scenario Analysis

November 22, 2019

The Task Force on Climate-related Financial Disclosures (TCFD) has formed a new advisory group to help them assist companies with one of the more challenging elements of climate-related disclosure: scenario analysis. Previous TCFD status reports have noted how companies have found scenario analysis challenging. Companies often struggled to construct appropriate scenarios, to understand how their […]

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FRTA Recommendation Rescinded

November 22, 2019

After the XBRL International Board of Directors voted to formally rescind the Financial Reporting Taxonomies Architecture (FRTA) recommendation earlier this year, the process to rescind the FRTA has now been completed. The FRTA was a no-longer relevant 2005 recommendation on taxonomy design, predating more relevant experience and the 2006 Dimensions specification. It was a guidance […]

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Qatar Stock Exchange Launches XBRL Disclosure Platform

November 15, 2019

This week the Qatar Stock Exchange (QSE) have taken the next step on the road to joining the ever-increasing number of jurisdictions mandating the XBRL standard with the launch of the Q-Disclosure platform.

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EBA Publish XBRL Taxonomy v2.9.1

November 15, 2019

On November 5 the European Banking Authority (EBA) published an updated version of data point model 2.9.1, the accompanying taxonomy, and an updated list of validation rules. Updates to the reporting framework will take effect at different dates dependent on regulatory requirements. Find the updates and all related files here.

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FRC Outlines Leasing Standard Best Practice

November 15, 2019

A new report from the UK’s Financial Reporting Council recommends that companies applying the new standard on lease accounting provide more information on its effects. IFRS 16 Leases, which became mandatory on 1 January 2019, requires companies to bring most leases on balance sheet in order to give a more faithful representation of assets and […]

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SRB Publish 2020 Taxonomy

November 15, 2019

Europe’s Single Resolution Board (SRB) is taking steps to protect taxpayers from having to bail out the banks. This week they have published a taxonomy extension in order to facilitate their shift to full XBRL reporting in 2020. The SRB was formed in response to the ‘too big to fail’ problem revealed by the 2008 financial crisis. In […]

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IFRS Taxonomy now available in Turkish

November 15, 2019

The files for the 2018 IFRS Taxonomy are now available in Turkish. To provide support to Turkish speakers, the IFRS Taxonomy Illustrated (ITI) has also been translated. This provides a simplified guide to the IFRS Taxonomy in an easy-to-read visual format that does not require knowledge of XBRL. Furthermore, the IFRS Taxonomy versioning information, which […]

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SEC Chair Calls for Investors to Clarify ESG Data Needs

November 15, 2019

How should Environmental Social and Governance (ESG) data be reported in order to best cater to the needs of investors? Earlier this week Securities and Exchange Commission (SEC) Chairman Jay Clayton explored this topic in remarks to the Investor Advisory Committee. The Investor Advisory Committee advises the SEC on various regulatory priorities, including the effectiveness […]

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