In a significant step forward for municipal reporting standards this week the California Assembly passed a bill that will set the state on the path to machine-readable reporting.
With the 2021 switch away from widely discredited interest rate benchmarks such as LIBOR, the mechanics of that transition was again on the agenda for the IASB this summer. Earlier this year IASB proposed changes to IFRS financial instruments standards IAS 39 and IFRS 9 that will allow hedge accounting to continue during the IBOR reforms. […]
Earlier this year the UK’s Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) announced the launch of the Climate Financial Risk Forum (CFRF), holding their second meeting in July 2019. The CFRF aims to tackle climate-change related financial risks with practical tools and strategic approaches. It brings together senior representatives from the financial sector to […]
Join us this October in Shanghai, China’s technology hub, for Data Amplified 2019. As China’s world class financial and economic centre, Shanghai is an exciting place to debate and discuss the future of business reporting. Famously entrepreneurial, characterised by constant change and towering skyscrapers, and the centre of China’s technology boom, this October Shanghai will […]
The European Securities and Markets Authority (ESMA) have released the third in a series of tutorial videos designed to guide relevant market participants through the transition to European Single Electronic Format (ESEF), which is set to come into force in January 2020. The video aims to answer ten questions on the ESEF regulation that are […]
The Reserve Bank of India (RBI) have released their annual report, detailing several supervisory measures that are underway to strengthen India’s banking system. The aim is to improve India’s credit risk and financial performance, and to increase the flow of credit to productive sectors of the economy. Included in these measures are draft guidelines on […]
How is structured data used outside of the reporting realm? A blog post from Ebay this week demonstrates how structured data comes in useful across various fields – and can even be put to use sorting out the contents of your garage. Ebay has 1.3 billion listings worldwide – an awful lot of very varied […]
Earlier this year the SEC introduced the FAST Act, which aimed to modernise and simplify disclosures with a number of measures including mandating Inline XBRL tagging for the cover sheets of key documents. This small but useful change introduces comparable, machine-readable index information, improving market access to data, even for documents that are not otherwise […]
The SEC’S Chief Economist and Director, S.P. Kothari, made a speech this summer highlighting how standardisation can help tackle the challenges presented by big data. While big data is certainly not a new concept, the digital era has accelerated data collection immensely, with some estimates indicating that the world now generates more data every two days than all of […]
The UK’s Financial Reporting Council (FRC) has opened consultation on the draft Streamlined Energy & Carbon Reporting (SECR) Taxonomy, with comments welcome until September 30. On April 1 2019 the UK government introduced the new SECR policy, building on the previous Mandatory Greenhouse Gas Reporting policy to extend mandatory energy reporting to more companies. The […]
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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.
