The Financial Stability Board (FSB) has highlighted the importance of encouraging innovation for financial stability in a letter that draws attention to issues for G20 leaders to consider.
What does the future of regulation look like? Is there a tension between a supervisory regime that seemingly relies on human judgement, but is increasingly investing in automation, machine learning and AI?
Mark Bissschop from SBR Banken has written an article for Accountancy World heralding the benefits of Structured Business Reporting (SBR) and calling for further expansion.
More and more securities markets around the world are shifting to collect data in iXBRL, and thanks to the work of the XBRL community on improving data quality, that data is more consistent and understandable than ever. That said, no matter how much high-quality data there is, it’s not helpful if it isn’t consumable.
The importance of easy data consumption was a key theme at Data Amplified this year. There has been a focus on making sure XBRL data fits the requirements of regulators but many speakers recognised the importance of data consumption – easy access to structured data creates increased visibility and usability for new users.
XBRL International’s Technical Director, Paul Warren demonstrated the way that fully valid Inline XBRL documents can be created that are indistinguishable from “glossy” PDFs, while still containing all of the markup that regulators (and markets) need. We will be publishing a range of information about these techniques and some examples will be made available on […]
Perhaps the most talked about presentation at Data Amplified came from José Antonio Huizar Moreno, CEO of 2H Software, who demonstrated a deeply impressive natural language query tool building on the potential to access XBRL data through an open API.
The conference also saw the initial release of an experimental Open API for Reporting that promises to greatly simplify analysis, making information more accessible and usable.
Data Amplified 2018 saw presentations demonstrating how entrepreneurs and reporting ecosystems are starting to use blockchain technology in reporting.
Dennis Knochenwefel, founder of Reportix, demonstrated the use of Inline XBRL and Blockchain to automate and enhance insurance contract management with “smart contracts” embedded into the system.
Standardised, machine-readable definitions have made reporting simpler for regulators of all kinds across the world – however, the power of that same technology for internal monitoring is only just being realised.