Last week, we reported on the European Securities Markets Authority (ESMA)’s release of the 2024 taxonomy and conformance suite. We need to clarify the timeline for its entry into force and application. While the 2024 taxonomy is now available on the ESMA website, EU filers will need to hold off using it for a couple more weeks.
The International Federation of Accountants (IFAC), in partnership with the We Mean Business Coalition and the Global Accounting Alliance, recently published the resource Building Trust in Sustainability Reporting and Preparing for Assurance. This guide provides a comprehensive roadmap for establishing effective governance arrangements and controls to bolster confidence in sustainability disclosures.
An article in Automaatioväylä (that’s the Finnish Society of Automation’s magazine) highlights significant challenges and opportunities in automating sustainability reporting, with a strong focus on the potential of XBRL to address these issues.
Germany’s Federal Financial Supervisory Authority (BaFin) is expanding the use of XBRL as the standard for financial reporting by insurance companies and pension funds.
The Canadian Sustainability Standards Board (CSSB) has released its first-ever sustainability disclosure standards, CSDS 1 and CSDS 2, providing frameworks for general sustainability disclosures and climate-related financial reporting.
The Financial Accounting Standards Board (FASB) is seeking stakeholder input on its future standard-setting agenda.
On 13 December, the European Securities and Markets Authority (ESMA) published a consultation outlining its proposals to extend the European Single Electronic Format (ESEF) to sustainability reporting.
The push for globally harmonised sustainability reporting has gained traction in the past month as regulators in Pakistan, Malaysia, Qatar, the UK, and Hong Kong announce or propose the adoption of ISSB or ISSB-aligned standards.
The European Banking Authority (EBA) has released the final technical package for its 4.0 reporting framework, set to apply in the first half of 2025. This package introduces the new Data Point Model (DPM) semantic glossary and enhances reporting capabilities with the DPM 2.0 methodology.
The Financial Accounting Standards Board (FASB) has published the 2025 GAAP Financial Reporting Taxonomy (GRT), SEC Reporting Taxonomy (SRT), and GAAP Employee Benefit Plan Taxonomy (EBPT), alongside the 2025 DQC Rules Taxonomy (DQCRT) and GAAP Meta Model Relationships Taxonomy (MMT). Together, these are referred to as the “FASB Taxonomies.”
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