The Bank of England has now published an updated taxonomy (v1.1.0) and associated validation rules for forms AS and FV, which represent key aspects of the bank’s statistical data collection in XBRL. Read more here.
Municipal governments and US states are sitting on large amounts of potentially useful data – but with disparate software systems leading to proliferating databases and a lack of machine-readable data, it’s currently difficult to analyse. The Reason Foundation is advocating for local governments to make the most of their extensive data sources by implementing Open, […]
On Tuesday, European Commission Executive Vice-President Valdis Dombrovskis gave a speech at a key IFRS conference setting out a broad vision for the future of corporate reporting, incorporating a number of important strands for the XBRL community.
In the Bank of International Settlements’ (BIS) latest podcast Bruno Tissot, Head of Statistics and Research Support at BIS, discusses how we can best use big data, the opportunities and challenges it presents, and the policy issues it creates. Tissot likes to see big data as organic data as opposed to static data: static data is collected […]
South Korea’s Financial Services Commission (FSC) has announced the imminent launch of the country’s first data exchange – which will serve as a platform for data providers and users to buy and sell data. The launch came close on the heels of the National Assembly relaxing regulations on the use of personal data and should […]
Earlier this month the Global Legal Entity Identifier Foundation (GLEIF) held a Meet the Market event in order to explore areas the Legal Entity Identifier (LEI) could be further adopted within industry and the public sector. In an opening speech, Klaas Knot, Netherlands Central Bank Governor, described the valuable role the LEI can play in […]
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) […]
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