The XBRL International Nominations Committee seeks expressions of interest from exceptional candidates with a strong commitment to improving reporting around the world for its volunteer Board of Directors. Members of the Board work in the public interest to help manage and promote the not for profit business reporting standards organisation.
XBRL International’s CEO John Turner was in Amman this week for the Arab Capital Markets Conference, talking to the region’s securities regulators and a host of leaders from the private sector about the challenges and opportunities that digitisation presents.
The SEC has proposed reforms to the rules governing Business Development Companies (BDC) and Registered Closed-End Funds that would require these funds to report information in structured data.
The amendment is in support of the SEC’s implementation of the Small Business Credit Availability Act and the Economic Growth, Regulatory Relief, and Consumer Protection Act. BDC’s primarily invest in small and developing companies, so ensuring these funds have an efficient approach to raising capital and good investment communication should help support small business.
Recently we updated readers on the progress of the Open Information Model (OIM)– which is well on its way to Recommendation status. But what will the OIM actually mean?
The OIM is central to the modernisation and simplification of the XBRL standard. Although XBRL is used extensively all over the world, allowing rich, structured data to be captured and used by businesses and regulators, the standard’s XML syntax is not always convenient and it often isn’t simple.
The Securities and Exchange Commission (SEC) announced this week that in May they will be holding a Fintech forum to discuss distributed ledger technology and digital assets.
The SEC has taken a mixed approach to digital asset regulation, with SEC Chairman Jay Clayton suggesting that digital assets both do and don’t qualify as securities, depending on their design. To help clarify the regulatory ambiguity around digital assets the SEC established its Strategic Hub for Innovation and Financial Technology in 2018 (FinHub). Finhub now seeks to improve communication with and understanding of the digital asset industry with this forum.
Managing access to personal data is a central question in many aspects of the global economy and at the forefront of many debates on a host of issues. Not least in payments.
Europe is pushing in two directions on payments infrastructure: making it easier to access, while strictly restricting access to authorised entities. The “Payments Services Directive (PSD2)” is opening up access to authorised groups, through Open Banking APIs. At the same time, the privacy provisions that define who can access what have been greatly tightened. Confused? Well, this week the European Banking Authority launched its central register of the thousands of payment and electronic money institutions operating under PSD2. Perhaps it might help.
AI has led to some predicting the catastrophic demise of the audit profession – however, as robots don’t quite live up to the job-stealing hype that’s been predicted, how will the smart machine age really effect the evolution of auditing? Jillian Alderman explores the reality of audit in the AI era in an article in the Graziadio Business Review this week.
On March 20 the Corporate Reporting Dialogue launched a six-week global consultation process to gather views from stakeholders on how to improve the alignment of sustainability frameworks.
As we’ve reported here before, a major setback in the admirable attempts to introduce more robust sustainability disclosure metrics is the existence of multiple competing frameworks. Without easily comparable data the impact of disclosure is highly variable.
Bombay Stock Exchange (BSE) adopted the XBRL standard for all Annual Report filings on 18 February, making company data digital and searchable. Bloomberg announced this week that it has on-boarded XBRL data from the BSE, giving a boost to business analysis on Indian BSE listed equities.
On 12 March the Securities and Exchange Commission (SEC) approved the US Financial Accounting Standards Board’s (FASB’s) 2019 GAAP Financial Reporting Taxonomy and the 2019 SEC Reporting Taxonomy. The updates to the GAAP Financial Reporting Taxonomy and the SRT for 2019 include changes to accounting standards, and a number of recommended improvements. The taxonomies are […]
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XBRL International is a global not for profit operating in the public interest. Our purpose is to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting.
