The European Banking Authority (EBA) has launched its 2024 EU-wide transparency exercise, offering a detailed look into the financial health of Europe’s banking sector. This data-driven initiative is part of the EBA’s preparations for the 2025 stress tests, aimed at ensuring a stable and resilient banking environment.
KPMG and PwC have raised concerns over the draft EU regulations on country-by-country reporting (CbCR), seeking clearer guidance on the use of XBRL for tax reporting. The new rules mandate XBRL for reporting financial data, but specifics on its implementation are lacking, prompting calls for further clarification.
Earlier this month the European Banking Authority (EBA) released an updated list of validation rules under its Implementing Technical Standards (ITS) on supervisory reporting.
The International Accounting Standards Board’s (IASB) move to update the IFRS Accounting Taxonomy follows the April 2024 release of IFRS 18, which sets a new standard for presenting and disclosing financial data.
The IFRS Foundation has released a new guide aimed at helping regulators integrate the IFRS digital taxonomies into their digital filing systems. The guide supports regulators in meeting the growing need for structured, machine-readable financial and sustainability data, offering greater transparency and comparability across borders.
Earlier this summer XBRL US submitted comments to The Securities and Exchange Commission (SEC) on the recently released draft Cybersecurity Disclosure (CYD) taxonomy.
Last week Australia passed legislation that mandates climate-related financial disclosures for large entities.
California’s Climate Corporate Data Accountability Act (SB 253) is set to enhance climate-related financial reporting, and a recent roadmap from Carbon Accountable confirms that its 2026 implementation timeline is feasible.
Mardi is the Chief of Strategic Affairs & Capacity Building at the IFRS Foundation and an XBRL International Board Member. She has been recognised as the “Sustainability Thought Leader of the Year” in the Environmental Finance awards.
The Financial Accounting Standards Board (FASB) recently issued proposed technical and other conforming improvements for the 2025 SEC Reporting Taxonomy (SRT). This release, published for public comment, invites feedback on adjustments aimed at refining the taxonomy’s usability. The comment period closes on 5 November, offering stakeholders the chance to provide their input.
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