On 15 July the European Insurance and Occupational Pensions Authority (EIOPA) released its updated Solvency II Data Point Models and XBRL taxonomies. The taxonomy and all related documents, including filing rules, details of the changes made, the Data Point Model, validations and instructions can be found here.
The European Securities and Markets Authority (ESMA) has published an update of its European Single Electronic Format (ESEF) Reporting Manual including expanded guidance on common issues encountered when generating XBRL documents in line with ESEF regulation. The manual is aimed at all market participants implementing ESEF, and should be particularly helpful for those preparing IFRS […]
The IFRS Taxonomy formula linkbase 2019 (the technical term for the business rules published as part of the IFRS taxonomy) is now available to download. The 2019 version includes updates reflecting a range of changes made to the IFRS Taxonomy this year. These business rules can help preparers increase the accuracy of their reports by helping validate the […]
The Danish Business Authority, one of Early Warning Europe’s 15 partners has developed a machine learning tool that uses publicly available accounting data to identify companies in financial distress.
As we’ve reported here before, the financial system is currently undergoing a technological revolution that regulators must respond to. Cryptocurrencies, new payment systems (tap to pay is becoming the norm) and digital banking all need new forms of oversight. At the same time, banking supervision is a highly complex system, with regulatory submissions reaching record […]
The Securities and Exchange Commission (SEC) are hosting a roundtable on July 18 to hear from investors, issuers and others on the impact of short-termism on capital markets. An excessive focus on short-term results in corporate thinking could lead to inefficient capital markets, poor investment returns and economic instability – however, the cause of short-termism […]
California could be on their way to join Florida in leading America’s state and local government towards transparent, easily accessed financial statements. The Open Financial Statement’s Act, SB 598, which has passed in the Senate and is soon to go to Senate Assembly, is the latest in a long trail of small steps towards local […]
Last month saw the 23rdXBRL Europe Day, held in Paris from 28-29 May. More than 150 attendees got the latest news on ESEF, participated in working groups and networked over dinner in a French Brasserie. See here for a video of how the day unfolded and to access links to the various presentations.
This great new video from the Global Legal Entity Identifier Foundation (GLEIF) clearly explains the process and advantages of Inline XBRL and unique digital identifiers. GLEIF recently published its annual reportusing machine-readable Inline XBRL format and embedding GELIF’s own Legal Entity Identifier into the financial information for the first time. The process of embedding an entity’s LEI […]
The SEC have published a trend analysis of taxonomy extensions used in XBRL submissions, showing little change in the overall percentage of filers using extensions – around 18% – between 2017 and 2018. During the same time the number of accelerated filers using extensions did come down slightly, to be more in line with other […]
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