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 […]
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, […]
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