At the 22nd XBRL Europe event in Rome on 8 February the Chairman of XBRL Italy, Marco Conte, opened by discussing the impressive achievements made by XBRL Italy over the past ten years. Beginning from a difficult place post-financial crisis in a country with fabulous bureaucracy, XBRL Italy was founded with the aim of innovating and […]
The Open Information Model is a key part of the modernisation and simplification of the XBRL standard. While the existing specifications will absolutely continue to be supported and improved for the foreseeable future, the OIM represents an important step forward. Producing digital business reports in XML is not always the most convenient syntax and the […]
The Securities and Exchange Commission has reopened the comment period for a proposal to amend disclosure rules for variable annuity and life insurance contracts. The proposed rule change would include updating and enhancing disclosure of variable annuity and variable life insurance contracts by requiring disclosures to be in Inline XBRL format. This would increase transparency […]
CFA Institute, the global association of investment professionals, are holding a free webinar to discuss the use of XBRL around the world today. XBRL use has become more widespread – but who is using structured data, how are they using it, and why are they using it? CFA Institute have conducted a study investigating the […]
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 […]
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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.
