Futurist Brett King, CEO and founder of Moven gave his radical futurist vision of the world in 2030 and beyond at the Innotribe opening and keynote on Monday at Sibos.
At Sibos, in Sydney this week there was significant focus on Artificial Intelligence, with speakers from a range of backgrounds discussing everything from IoT to AI and ethics.
What can be achieved in a single day, with no experience of XBRL? One student who undertook a day long work experience placement with the UK’s Financial Reporting Council demonstrates the potential that can be unlocked by XBRL, even without time or prior knowledge.
Fast growing interest in the environmental, social and governance (ESG) aspects of investing has led to a data explosion over the past decade. In the US alone, the growth has been spectacular: four-fifths of American companies now publish reports on corporate social responsibility – quadruple that of seven years ago – and in general, the amount of data reported to the SEC has increased five-fold since the financial crisis. While we enthusiastically welcome the increased transparency and trust more data can bring, sifting through all that information is difficult, and investors seem to have particular trouble translating ESG information into investible data, especially as so much of it is unstructured textual, qualitative disclosure, rather than comparable quantitative data.
A paper published by BIS this week supports the – hopefully uncontroversial – view that financial regulation upheld by international standards is vital for economic growth. The working paper studies the effects of prudential regulation, financial development and financial openness on economic growth. Based on an analytical review of the channels through which prudential regulation can affect growth and an empirical analysis of the economies in 64 countries, the paper concludes that growth is promoted by regulation that mitigates financial risks. At the same time, financial openness tends to reduce the growth benefits of regulation, potentially due to the opportunities to associated with regulatory arbitrage: conducting financial business in countries where the rules are less strict, or at least different.
In the US, FASB’s new standard on leases, ASC 842, will come into mandatory effect in January 2019. The new standard will require companies to report leasing costs on the balance sheet, rather than in the notes to the accounts. Leasing debt will be reported as a liability, and “right of use” as an asset, […]
This week the Israel Securities Authority (ISA) said that it has started using blockchain technology to improve cybersecurity – particularly information security, to protect against fraud and ensure the data submitted to the ISA is safe. The ISA have embedded blockchain in their ‘Yael’ system, which is used by the government agency to deliver information […]
Our colleagues at XBRL Sweden held their annual conference on October 4 – congratulations on a successful and enlightening day! If you couldn’t make it, the presentations from the conference are now available to download on their website.
On October 9 the UK’s HMRC updated their guidance on the taxonomies they accept for company tax returns.
The SEC published an update of it’s interactive data test suite last week. If you are a vendor that works in that field you’ll need to go and check it out…. review a summary of the changes here and the Data Test Suite here.
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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.
