Together with a press release marking the publication of the ESEF Regulatory Technical Standards in the Official Journal of the European Union, the European Commission published an ESEF Q&A, that provides answers to frequently asked questions. Significantly, it includes the following question and answer: 7) What kind of assurance will be provided for financial statements […]
Global markets have, in theory, recognised the need for climate-related-risk reporting – but in practice, implementing effective disclosure practices can be a daunting task. More than 600 organisations have shown support for the Task Force on Climate Related Disclosure’s proposals; however, take-up has been slow, with a number of companies calling for more practical guidance. To […]
Ukraine have been moving towards mandating XBRL for financial reporting for some time now and this week the National Commission on Securities and Stock Markets (NKTSBFR) announced that the new financial reporting system will officially be launched on 18 June 2019. The new digital financial reporting mandate makes use of the IFRS taxonomy, and will affect all […]
More news from Europe this week as the European Banking Authority (EBA) have published an update to the Implementing Technical Standards (ITS) on supervisory reporting, forming part of the EBA’s reporting framework v2.9. The ITS updates are designed to keep reporting requirements in line with changes in the regulatory framework that respond to an evolving […]
While big data offers unparalleled opportunities for analysis and forecasting there are also serious ethical concerns surrounding data privacy issues that must be balanced. As such, the Hong Kong Monetary Authority (HKMA) are pushing for the adoption of an Ethical Accountability Framework (EAF) in the collection and use of personal data. The report on the […]
Giant Leap for Global Trust: GLEIF creates LEI Digital Certificates, uses Inline XBRL Annual Report to demonstrate.
GLEIF Annual Report demonstrates conversion from Adobe Indesign, ESEF taxonomy multi-lingual capabilities.
Deutsche Bank have published an in-depth guide to the ISO 20022 migration set to bring standardisation to global payments infrastructure by 2025. The next few years will see payments infrastructure switch up as major central banks around the world modernise their systems by swapping to ISO 20022 for cross-border and inter-bank payments. This significant move […]
Labels are an essential part of an XBRL taxonomy, providing human-readable descriptions of the tags that it defines. XBRL provides a very flexible and powerful mechanism for defining labels, supporting labels of different types and in different languages. In order to help taxonomy creators define labels in a clear and consistent manner, the XBRL […]
Amid growing momentum for disclosures in alignment with the Task Force on Climate-related Disclosures (TCFD) recommendations, Japans Ministry of Economy, Trade and Industry (METI), Financial Services Agency and Ministry of Environment are launching a Japanese TCFD Consortium, which will develop an effective implementation for the TCFD recommendations in that country. The TCFD Consortium offers a platform […]
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