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Stability concerns to watch in Non-Bank Financial Intermediation

January 15, 2021

Could the next financial crisis come from the non-bank sector? The structure of finance is changing, and with vast and increasing amounts of financial intermediation being done by entities other than banks, often less tightly regulated, this is an important area for monitoring, and disclosure efforts as well as potential regulation. The Financial Stability Board […]

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Russia’s ready to rumble: IFRS Work Plan for 2021

January 15, 2021

The Russian Ministry of Finance has released the ‘Interagency Working Group’s work plan for IFRS applications for 2021’, with a tantalising glimpse of XBRL unification. The working group will cover a wide range of issues relating to International Financial Reporting Standards (IFRS), which were endorsed for use in the Russian Federation in 2011 and have […]

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Let there be harmony! The way ahead for Asia-Pacific IBOR Transition

January 15, 2021

In a recent report, ‘ASIFMA IBOR Transition Readiness Survey Results and Action Plan,’ the Asia Securities Industry and Financial Markets Association (ASIFMA) and international law firm Ashurst have highlighted areas for concern and next steps as the Asia-Pacific financial industry navigates the final stages of the IBOR (Interbank Offered Rates) transition.

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More M&A: Certent, Inc. acquired by insightsoftware

January 15, 2021

On 7 January, insightsoftware, a global provider of enterprise software solutions for the Office of the Chief Financial Officer, announced that it had acquired Certent, which provides software-as-a-service solutions for financial disclosure management and equity management.

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Appetite for Regulatory Innovation grows in the face of Covid-19

January 15, 2021

Amid the chaos that Covid-19 has wrought on the financial sector, it has also created an urgency to prioritise and deploy regulatory innovation and fintech initiatives.

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Computers are Dumb!

January 8, 2021

The International Financial Reporting Standards (IFRS) Foundation consultation on sustainability standards drew to a close recently, with almost 500 responses filed. Among them was XBRL International’s response on behalf of the wider XBRL community.

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The End of Accounting or a Sustainable Beginning?

January 8, 2021

Investors need high-quality, comparable environmental data that captures intangibles and is aligned with financial reporting. That’s the conclusion of Christian Dreyer, a leading analyst and independent investor and until recently the CEO of CFA Society Switzerland.

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BIS looks to the Future with Big Data Project

January 8, 2021

The rise of data and digitisation means changes are afoot in the financial system. But what will characterise the central bank of the future? Agustín Carstens, General Manager of the Bank for International Settlements (BIS), recently addressed how the BIS Innovation Hub is helping the bank tackle the big questions of our digital era.

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Improved oversight with new XBRL-based reporting requirement for Colombia

January 8, 2021

In December, Colombia’s Superintendency of Residential Public Services (Superintendencia de Servicios Públicos Domiciliarios, or Superservicios) launched a new quarterly reporting requirement for Special Financial Information (Información Financiera Especial, IFE), based on a newly published XBRL taxonomy.

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Will new Resource Extraction Payment Disclosures be useful?

January 8, 2021

In December 2020, the US Securities and Exchange Commission (SEC) adopted new rules on resource extraction payment disclosure, which require XBRL-based reporting for the first time. The rules require public companies involved in extractive industries to report annually on payments made both to the US Federal government and to foreign governments for the purpose of […]

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