The Financial Accounting Standards Board (FASB) has incorporated the DQC validation rule documentation into the 2020 release of the US GAAP Financial Reporting Taxonomy. The validation rules, developed by the XBRL US Data Quality Committee (DQC), are used by filers to check the accuracy of their data before they submit it to the SEC. This […]
The Superintendencia de Sociedades in Colombia is holding a month of free training sessions to help financial report preparers navigate the XBRL EXPRESS online system. Circular 201-000008, which came into effect in November 2019, established requirements for monitored companies to report financial statements digitally, in XBRL format, in line with international standards. In addition to introducing country-wide […]
Following formal adoption by the European Commission, the European Banking Authority (EBA) amendments relating to COREP and FINREP based on the final draft of Implementing Technical Standards (ITS) submitted in July 2019 have been finalised. All related documents including taxonomy files and filing rules can be found here.
After ten successful years working to bring structured business reporting to the Netherlands, and beyond, Prof. Hans Verkruijsse’s retirement from his long-standing role as XBRL Netherlands Chair was marked this week at a meeting in Amsterdam. Throughout his career within the profession (as a Partner at EY and as an academic at the Tilburg University) […]
Recently Marc Joffe outlined the significant opportunities presented by the newly passed GREAT Act – and highlighted some steps already taken along the path to its realisation. At the start of 2020 the US Congress passed the “Grant Reporting Efficiency and Agreements Transparency”, or GREAT, Act. The GREAT Act presents a significant opportunity to increase […]
Earlier this month the European Securities and Markets Authority (ESMA) published its Strategy on Sustainable Finance. The strategy sets out how ESMA will place sustainability at the core of its activities by embedding Environmental, Social, and Governance (ESG) considerations into its work.
Congratulations to CA. Atul Kumar Gupta, Vice Chairman of the Board of XBRL India, who has been elected as President of The Institute of Chartered Accountants of India (ICAI). CA. Gupta is widely appreciated for his key contribution to the new Goods and Service Tax regime in India. He has also chaired the SAFA Committee on […]
Our very own Robert Tarola, Deputy-Chair and former Chair of the XBRL International Board of Directors, has been recognised for his numerous achievements by the Fox School of Business with the Lifetime Achievement in Accounting Award. This award recognises a lifetime of professional success and service in the industry, experience we are lucky to benefit […]
Machine learning (ML) has been touted as set to transform the financial landscape – but is this hype or reality? A recent Bank of England survey indicated that machine learning – including live projects using complex methods such as natural language processing – are increasingly common in the UK. The data shows that a third […]
On 30 January the US Securities and Exchange Commission (SEC) announced amendments to Regulation S-K, continuing the modernisation and simplification efforts called for by the FAST Act. The latest proposals are focused on Management’s Discussion and Analysis (MD&A), and aim to eliminate overlapping and duplicated requirements, revise requirements in light of technology (namely the availability […]
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