Numerous countries use Inline XBRL as the gold standard for IFRS-based financial reporting. In particular, in Europe we now have two years of experience of the European Single Electronic Format (ESEF) – and some interesting insights from that are discussed above.
EFRAG recently published insights into the International Accounting Standards Board’s (IASB) project on climate-related risks in the financial statements. The briefing covers key findings from EFRAG’s outreach and reviews of European companies’ reporting of climate-related risks.
The International Accounting Standards Board (IASB) has published proposed amendments to IFRS Accounting Standards. These yearly tweaks aim to clarify wording, correct minor unintended issues, and improve consistency within the IFRS standards.
We are absolutely delighted to announce a new partnership between CDP and XBRL International, which aims to accelerate digital sustainability disclosure worldwide.
Marc Joffe, Senior Policy Analyst at The Cato Institute, highlighted the role of state-level reporting systems in shaping the implementation of the Financial Data Transparency Act (FDTA). Joffe’s insights shed light on how states could provide a model for FDTA execution.
In 2022, the Municipal Securities Rulemaking Board (MSRB) launched EMMALabs, an innovation sandbox within the Electronic Municipal Markets Access (EMMA). The new platform is designed to accelerate and advance data analytics in municipal securities markets. EMMALabs has recently introduced a prototype dedicated to structured data, providing essential insights into its significance.
EFRAG (European Financial Reporting Advisory Group) has released its final comment letters addressing two significant ISSB (International Sustainability Standards Board) consultations: Agenda Priorities and the Internationalisation of SASB (Sustainability Accounting Standards Board) Standards.
US Securities and Exchange Commission (SEC) Commissioner Mark T. Uyeda recently addressed the 2023 NASAA Fall Annual Meeting, emphasising the role of innovation and technology in modernising investor protection.
The UK’s Financial Conduct Authority is looking for input on ways to improve the NSM, or National Storage Mechanism.
In an ongoing effort to enhance the quality and utility of corporate financial data filed with the SEC, the Division of Corporation Finance has issued a sample letter addressing companies’ XBRL and Inline XBRL disclosures. This letter aims to provide constructive feedback and guidance to improve the clarity and accuracy of financial reporting.