How will the Financial Data Transparency Act (FDTA) reshape municipal financial reporting in the US? The FDTA will require electronic reporting and machine-readable tagging (likely in XBRL) of state and local government financial data, boosting the ability of users — especially lenders — to undertake analysis and comparison.
XBRL International is delighted to be able to announce that Data Amplified, the annual conference on the future of business reporting, will be held on 16 and 17 October 2023 in Zurich, Switzerland.
During a panel at Data Amplified Virtual 2022 Richard Bossen (AMANA) and Owen Jones (IFRS Foundation) and Stuart Rowan (XBRL International) tackled the current challenges – and suggested potential solutions – facing sustainability standard setters now.
For all those beginning to use block tagging under the European Single Electronic Format (ESEF) mandate this year, ToppanMerrill have released a webinar, guiding viewers through the requirements. Block tagging is currently the final phased-in requirement for ESEF submissions and applies to all European and UK public issuers with consolidated IFRS Financial Statements.
The US Securities and Exchange Commission (SEC) is looking for feedback on the time required for interactive data requirements.
The Australian Government Treasury published a consultation paper in December looking for input on the key considerations for the design and implementation of standardised, internationally aligned disclosure requirements for climate-related risk and opportunities.
As we mentioned in December, we’e been making some improvements to the filings.xbrl.org website, known internally and informally as “fxo”. The new version provides enhanced functionality for navigating between filings, entities and filing authorities, and makes use of hashes to uniquely identify and trace filings, including where the same document has been filed to multiple authorities.
A recent article on Cities Today examines how local governments in the US can maximise federal funding by using (machine-readable) data. With the US government investing significantly in municipal infrastructure, local governments are leveraging data to understand their needs, and to make smarter decisions about how to spend funding.
XBRL International has recently published two new guidance items describing best practices in managing and communicating changes to taxonomies. As taxonomies are regularly updated, it’s important that involved stakeholders follow best practices to ensure that the transition to the new taxonomy version is well prepared for and unfolds smoothly.
Interested in taking an active role in driving digital sustainability reporting forward in Europe? The European Financial Reporting Advisory Group (EFRAG) is seeking candidates with professional experience with XBRL to join its European Sustainability Reporting Standards (ESRS) Digital Reporting Consultative Forum (ESRS DRCF).