This week also sees the Financial Stability Board (FSB) chiming in on the growing number of reports and speeches examining the financial stability implications of BigTech and the digitisation of finance with two reports. Firstly, the FSB looks at the range of issues raised by the entry of BigTech firms into finance in BigTech in finance: […]
The Committee of European Auditing Oversight Bodies (CEAOB) has published important guidance for auditors reviewing financial reports published in accordance with the new ESEF regulations.
France has joined the UK in the push to make environmental reporting standards compulsory in order to tackle greenwashing and enable sustainable investment. France’s finance minister, Bruno Le Maire, told the Financial Times recently that France is encouraging the EU to introduce compulsory environmental reporting standards for European companies and to apply a common definition of […]
A huge congratulations to Rachel Carpenter, co-founder, and CEO of Intrinio, who has been selected for the Forbes 30 Under 30 Finance list for 2020. Intrino is a US start-up that offers a user-friendly API for financial data analysis and aggregation. Amongst other feeds, the company pulls data directly from company XBRL filings, providing high-quality data […]
Toppan Merrill’s November and December issue of Dimensions includes an explanation from the SEC’s Division of Economic Risk and Analysis (DERA) chief economist S.P. Kothari of the SEC’s current and expanding use of big data. As we highlighted back in August, XBRL helps turn big data into useful information. Making data machine-readable, or, in Kothari’s words, “dramatically […]
Recent IFRS speeches indicate a new willingness to better integrate IFRS reporting with additional non-financial reporting metrics that have developed out of changing investor needs. Technology means we have seen a dramatic shift in the importance of intangible assets, reducing the relevance of the traditional balance sheet. Demand from investors for sustainability reporting is on […]
The UK’s Prudential Regulation Authority (PRA) have published version 3.3.0 of the Bank of England Banking (BoE) XBRL Taxonomy, release notes, data point model dictionary, annotated templates and validation rules. Updates have been made to support the collection of Capital+ and Ring-fencing reporting. See here for more information and the taxonomy update release note.
As the year draws to a close the EU is going through the process of adopting the first review of the European system of financial supervision (ESFS) since it was established in 2011. The ESFS was established in 2011 in response to the 2008 financial crisis. It consists of the three European supervisory authorities (ESAs); […]
Keen readers will have noticed a shuffle at the top of the XBRL International Board recently.
The use of Inline XBRL in Europe for public company IFRS Annual Financial Reports is just around the corner. We’ve seen a remarkable uptick in the capabilities of software and services that can produce Inline XBRL reports with the high level of design fidelity that preparers are accustomed to with PDF and paper-based reports. We […]
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