In difficult times like these it is especially useful for firms to have a clear picture of any upcoming regulatory changes that they need to prepare for. That’s why several of the UK’s regulatory authorities have launched the Regulatory Initiatives Grid initiative, designed to act as a roadmap which will help financial firms prepare for […]
Yesterday the International Accounting Standards Board (IASB) issued a package of narrow-scope amendments to the IFRS Standards. These included IAS 37, Onerous Contracts; IFRS 3, Reference to the Conceptual Framework; IAS 16, Property, Plant and Equipment; and Annual Improvements to IFRS Standards 2018–2020. The amendments will come into force in January 2022. Find out more about […]
As we underlined in a recent comment letter responding to Accountancy Europe’s proposals for non-financial standard setting, for reporting standards to be useful they should be global. So it’s welcome news that this week the Task Force on Climate-related Financial Disclosures (TCFD) have launched the Portuguese translation of its recommendations, designed to encourage a stronger […]
Reporting this year is vastly more complicated for many companies. A concise and clear blog post this week from Estonia gives some tips to help work through any pandemic-related problems and submit annual reports on time and correctly during the crisis. It’s a comprehensive guide to who, what and how to report for businesses in […]
Should the US Securities and Exchange Commission (SEC) do away with tables consisting of information that can be compiled elsewhere? This week CFA Institute’s Mohini Singh, ACA, outlines the CFA and Council of Institutional Investor’s arguments against some of the SEC’s proposed updates to Management Discussion and Analysis (MD&A). Their response highlights that although many of […]
Want to know more about the US Federal response to the coronavirus crisis? The Federal Reserve Supervision and Regulation Report outlines the Reserve’s regulatory and supervisory response. It uses federal banking data to provide an overview of banking trends and market indicators of industry conditions. The report also gives an overview of current regulatory policy, […]
This week the European Commission outlined its approach to strengthening the EU’s anti-money laundering (AML) and Countering the Financing of Terrorism (CFT) framework. The plan sets out multiple measures the Commission will take over the next 12 months to better enforce, supervise and coordinate the EU’s rules in this area. The measures include ensuring that […]
We’re delighted to announce that another software product has met the rigorous demands required to achieve XBRL Certified Software status. Invoke ESEF is a report production tool designed to meet the requirements of the ESEF mandate. This week it passed the tests necessary to prove out XBRL interoperability and joins the ranks of other XBRL Certified Software. Details of all certified software can […]
This week saw the much-anticipated publication of the Open Information Model (OIM) specifications as Candidate Recommendations.
The Legal Entity Identifier (LEI) taxonomy has been published as a Proposed Recommendation. This indicates that sufficient implementation experience has been obtained to confidently believe that no additional development is needed. If no further issues are identified at this stage the specification will next be re-issued as an XBRL Recommendation. The LEI, governed by Global Legal […]
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