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Climate Reporting Falls Short of Investor Expectations

By Editor on November 8, 2019

A new UK Financial Reporting Council (FRC) report indicates that companies are falling short of investor expectations for quality, granular climate-related reporting. As we heard from SASB at Data Amplified, demand for climate-related reporting is growing. However, for reporting to be useful for investors, it needs to be clear and comparable. The FRC report provides practical guidance to […]

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XBRL US Comments on Modernisation of S-K

By Editor on November 8, 2019

XBRL US has submitted a comment letter strongly recommending that the SEC adopts financial data standards for information affected by the Modernization of Regulation S-K proposals. As previously reported, the SEC recently submitted a proposal to amend regulation S-K, including various changes to disclosure requirements designed to improve the readability of disclosures, discourage repetition and discourage […]

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EBA Extends EU-Wide Deadline for New Payment Security Rules

By Editor on November 8, 2019

The European Banking Authority (EBA) have pushed back the deadline for the migration to Strong Customer Authentication (SCA) standards across Europe until 31 December 2020, giving national authorities a 15-month extension to implement the new rules. EBA have acknowledged a lack of clarity around the complex requirements and the importance of a harmonised approach across […]

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EU Enforcers Prioritise New Reporting Standards

By Editor on November 8, 2019

The European Securities and Markets Authority (ESMA) has published priorities for European regulators to consider when examining the 2019 annual financial reports of listed companies. In particular, ESMA have prioritised enforcing the recent changes made to financial reporting standards. This includes exercising significant judgement in the application of Lease disclosures under IFRS 16, noting the improvement […]

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SEC Propose Structured Data for Fee Calculations

By Editor on November 8, 2019

On Friday 24 October the US Securities and Exchange Commission (SEC) published a new rule proposal aiming to ensure all required information for fee calculation is in structured format using Inline XBRL. The proposal would amend fee bearing forms, schedules and statements so that the fee table and explanatory footnotes for the fee table are […]

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Adopting the LEI Could Save Banks Billions

By Editor on November 8, 2019

Interesting news from the Global Legal Entity Identifier Foundation (GLEIF) this week as research shows that wider use of the Legal Entity Identifier (LEI) by banks could unlock an estimated US $2-4 billion across the global banking sector annually. While the LEI has been proving beneficial for identification in regulatory environments for some time now, […]

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Who Comes Out on Top? California’s Cities Ranked for Fiscal Responsibility

By Editor on November 8, 2019

A new financial health dashboard tool launched by the California State Auditor allows the public to compare the finances of 471 cities within California. The hope is that this dashboard can help provide the kind of oversight needed to identify cities at risk of filing for bankruptcy or defaulting on municipal bonds. The dashboard found […]

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Machine Learning on the Rise in Financial Services

By Editor on November 8, 2019

A Bank of England (BoE) report has found that the use of machine learning (ML) is on the rise in financial services. The report is based on a joint survey from BoE and the Financial Conduct Authority in 2019 of 106 firms. The UK economy is increasingly powered by big data, with financial services in particular […]

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EBA Calls on EC to Boost Cross-Border Finance

By Editor on November 8, 2019

The European Banking Authority (EBA) have published a report calling on the European Commission to improve conditions for cross-border banking and payments services within the EU. The report identifies two main impediments to cross-border banking and payments reaching their full potential in Europe. Firstly, clearer communications are needed to better identify when a digital activity […]

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XBRL Sweden

By Editor on November 8, 2019

XBRL Sweden has seen significant growth over the past 3 years, now boasting 39 organisational members across the reporting supply chain, including key regulators, government agencies, accounting organisations and firms, as well as big and small software vendors and consultants. At yesterday’s XBRL Sweden meeting held in EY’s headquarters in Stockholm there was a set […]

Latest News

Climate Reporting Falls Short of Investor Expectations

XBRL US Comments on Modernisation of S-K

EBA Extends EU-Wide Deadline for New Payment Security Rules

EU Enforcers Prioritise New Reporting Standards

SEC Propose Structured Data for Fee Calculations

Adopting the LEI Could Save Banks Billions

Who Comes Out on Top? California’s Cities Ranked for Fiscal Responsibility

Machine Learning on the Rise in Financial Services

EBA Calls on EC to Boost Cross-Border Finance

XBRL Sweden

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