The International Accounting Standards Board (IASB) recently issued an amendment to the IAS Statement of Cashflows. This week Nick Anderson, IASB Board member, discusses the objectives of the IAS 7 disclosure requirement and gives some advice for companies looking to make their disclosures as useful as possible. The new amendment requires companies to include information […]
Mumbai’s stock exchange, the BSE, has extended mandatory XBRL filing to listed insurance companies. On 8 February BSE launched an XBRL taxonomy to enable listed insurance companies to join all other listed entities in filing their financial reports in XBRL format. The BSE also offers an Excel utility with built-in validation to help smaller insurance […]
The European Banking Association (EBA… not to be confused with the other one) have published a report looking at the opportunities digital technologies are creating for banks. The increased digitisation of finance has been seen as a threat to their dominant role. The rise of open banking, driven by shifting consumer demand, combined with new […]
Earlier this week Randal K. Quarles made his inaugural speech as new chair of the Financial Stability Board (FSB), using the opportunity to share his view of the future. The FSB has spent the past seven years focused on creating a body of regulation to address the “fault lines exposed by the global financial crisis”, […]
Last week the SEC’s Commissioner Hester M. Peirce surveyed the line regulators must tread, balancing protecting the public with fostering innovation. The SEC regulates an industry that is a gatekeeper for productivity in the rest of the economy: without the funds capital markets provide, it would be difficult for firms to progress and explore new […]
Economia took a look at how the disruptive changes brought about by technological innovation are reshaping the role of finance teams this week. With cloud computing, digitisation, analytics and robotic process autonomation (RPA) becoming ever more embedded in business, CFOs and finance teams need to be ready to adapt to the constantly evolving digital landscape […]
On Monday last week Philip Lane, governor of the Bank of Ireland, was approved as the next chief economist for the European Central Bank. His appointment was endorsed by Eurozone finance ministers at a meeting in Brussels. Lane will follow Belgian economist Peter Praet, whose eight-year term is ending. He will take over the role […]
Calculations 2.0 aims to improve XBRL 2.1’s calculation functionality to better cover the calculations usually required in a financial report and to address the issue of calculation inconsistencies that arise when reports feature incomplete data sets.
Luxembourg’s banks are considering creating a shared regulatory reporting platform to ease the burden and cost of growing compliance demands. In the face of the past decade’s increased demand for more complex, frequent and granular reporting, the Luxembourg Banker’s Association (ABBL) are overseeing a feasibility study examining the possibility of establishing a shared reporting hub […]
A couple of weeks ago we reported on the US Federal Energy Regulatory Commission’s (FERC) proposal to move to XBRL-based data collection system. This week the FERC formally published the proposed rule change, which is open for comments until 6 March 2019. The FERC have proposed the switch to the XBRL standard because XBRL will make the […]
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