The US Department of Commerce is consulting on a proposed rule update to International Services Surveys (BE-180), including a plan to require survey respondents that have a Legal Entity Identifier (LEI) to provide it. XBRL US has submitted a comment letter in support of this proposal, arguing that the LEI ‘presents a critical opportunity to […]
The European Supervisory Authorities (ESAs) have published a consultation paper seeking input on proposed environmental, social and governance (ESG) disclosure standards for certain financial services providers and products. The proposals would require the sustainability characteristics or objectives of financial market participants, advisers and products to be disclosed. EU-wide benchmarks for determining ‘sustainable’ activity would be used to […]
The recently implemented European Single Electronic Filing (ESEF) mandate, which will require IFRS annual reports for 2020 onward to be reported with iXBRL tagging, isn’t just crucial for compliance. ESEF will also be of significant interest to investors, as noted in a blog post on Holland Fintech this week. ESEF will have a significant effect […]
This week the XBRL US Data Quality Committee (DQC) published its 12th Ruleset for public review.
Major economies around the world are increasingly adopting XBRL based digital reporting – is it time for Australia and New Zealand to join them? A new paper from Chartered Accountants of Australia and New Zealand provides a detailed analysis of the need for reform in reporting and the achievements, as well as some of the issues associated with […]
“Forward Looking Statements” have a specific meaning in securities law and regulation. Academic, regulatory and market literature is filled with the pros and cons of companies providing information in their financial statements that help users understand what might impact future earnings and cashflows and that isn’t based on historical facts. If in January you had […]
The Open Information Model (OIM) specifications, having been through a multi-year development process, are almost ready to be published publicly as Candidate Recommendations. But why has it taken so long? Standards need to be stable – especially when, as with XBRL, they are primarily adopted by risk-averse regulators and policy makers. Specifications also have a […]
To encourage private investment in sustainable growth the EU Council has adopted a classification system aimed at creating a common language on environmental objectives across Europe. In order to reduce greenwashing and improve investor confidence in financial products labelled as ‘sustainable’, common, clear metrics through which to discuss environmental objectives are important. An EU wide […]
With the Covid-19 fallout making unprecedented modifications to business-as-usual these past few months, the European Securities and Markets Authority (ESMA) has issued updated guidance on the application of Alternative Performance Measures (APM Guidelines) in context of the pandemic. The new Q&A highlights the main relevant principles of the APM Guidelines, which should be used when […]
XBRL International is getting ready for the upcoming publication of the Open Information Model specifications as Candidate Recommendations. What is the OIM, we hear you ask?
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XBRL International is a global not for profit operating in the public interest. Our purpose is to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting.
