XBRL International has provided a comment letter on the EU’s draft report on climate-related disclosures, urging the EU to help work to make this kind of reporting comparable, digital, discoverable and accessible.
XBRL Denmark has announced that their XBRL Nordic IV Conference will be held in Copenhagen on 28 March 2019 at the Danish Business Authority. At XBRL Nordic IV, the focus will be on the forthcoming ESMA/NCA mandate around annual IFRS reporting via the new European Single Electronic Format (ESEF). For more information please visit the […]
Artificial Intelligence and machine learning offer enormous potential for the investment industry – however, the adoption of new technologies has a range of impacts that need to be considered. A report published last month explores these concerns, asking what the potential impact of Artificial Intelligence will be on the CFA Institute’s Code of Ethics and […]
How can Integrated Reporting (IR) reach its potential? Nick Shepherd, a Council member at the UK based Maturity Institute where he leads their work on Integrated Reporting, explores this question in an article on Economia this week. IR is a fast-growing field, with increasing numbers of organisations choosing to voluntarily disclose broader metrics. But is […]
XBRL International’s Entity Specific Disclosure Task Force (ESDTF) has published draft guidance to help those who will be preparing iXBRL reports or developing software that complies with ESMA’s ESEF regulation better understand how to anchor entity-specific concepts to ESEF taxonomy concepts. This guidance is draft, and non-normative, but is intended to assist software firms and issuers […]
A speech given last week by Denis Beau, First Deputy Governor of the Bank of France, examines the risks and challenges to regulation posed by the explosion of Big Tech and Fintech firms. In the past decade there has been a structural shift stemming from the digitisation of finance, utilising cutting-edge technologies like big data, […]
Standardisation is widespread in society and a crucial component of the modern economy. In a new paper this week, The Data Standardization Challenge, Professors Richard Berner of the NYU Stern School of Business and Kathryn Judge of Columbia Law School look at what slows down the development of financial services standards. They point out that standardisation […]
This week the IFRS published a feature reflecting on the changes they have made to the concept of materiality in light of the IASB’s recent finalised revised definition of ‘material’. At the crux of business disclosure is the question: what gets reported? For preparers, too much irrelevant information can be a burden, whereas for investors, more […]
Last Friday the Indonesian Finance Ministry’s Taxation Directorate General and the Indonesian Stock Exchange (IDX) signed a memorandum initially enabling 33 state-owned companies to simplify their tax returns by reporting to the tax office in XBRL. Previously, companies were required to submit hard copies of their financial statements to the tax office, a lengthy process […]
Bond Buyer this week published one of two takes on the latest push for state-level XBRL in the US, arguing that while machine-readable technologies should bring more transparency to the municipal bond market, they could also cause ‘headaches’ for issuers. But are the concerns voiced legitimate, simply a fear of technology, lack of education – […]
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