President Trump waded into regulatory policy in characteristic style this August with a tweet that has ignited debate: “Stop quarterly reporting & go to a six month system[…] That would allow greater flexibility & save money. I have asked the SEC to study!” Companies siding with President Trump cite the cost of compliance and the […]
This week the Association of National Numbering Agencies (ANNA) and the Global Legal Entity Identifier Foundation (GLEIF) have announced the signing of a new initiative to link International Securities Identification Numbers (ISINs) and Legal Entity Identifiers (LEIs). The aim is to help improve the transparency of exposure by linking the issuer and issuance of securities. […]
A recent Chartered Financial Analyst (CFA) Institute survey indicates that segmented reporting information is critical to investors, yet disclosures need improving dramatically. Recent exchanges between investors and tech giants such as Amazon and Alphabet (aka Google) show the struggle: Amazon and Alphabet cloak the performance of important sections of their business such as Alexa, Amazon […]
We are delighted to welcome three new members to the XBRL Board: Dato’ Zahrah Abd Wahab Fenner, Mr Philip Fitz-Gerald and Ms Olga Goncharova. We are also very pleased to announce that both Mr Michal Piechocki and HE Mohammed Al Hadari have had their terms extended by the XBRL International Member Assembly.
While we were off the air, there were plenty of developments around the world that you might have missed including: Focus on Cyber Risks. Worried about having your information stolen? You’re not the only one. Last month, the European Insurance and Occupational Pensions Authority (EIOPA) published its report “Understanding Cyber Insurance – A Structured Dialogue […]
A recent Central Banking magazine survey conducted in conjunction with Bearingpoint, shows the increasing importance of big data to central banks – however, also highlights that there are data quality and management issues that need improving to maximise the potential of this information. Working with big data is fast becoming a mainstream activity for central […]
Digital technologies from blockchain to AI and big data to XBRL’s own computer-readable reporting format are transforming global business and the financial world. The world’s four largest auditors – Deloitte, Ernst & Young, KPMG and PwC – are working with 20 Taiwanese banks to test blockchain technology that provides a new way to conduct bank […]
In May, India’s Securities and Exchange Board (SEBI) updated their regulations with a package of updates, some of which will begin to take effect from 1 October 2018. The updates are designed to enhance corporate governance by improving the structure, checks and balances and independence of boards, auditors and other gatekeepers. Importantly, the amendments included […]
As reported in July, it was great news to hear that the cost of XBRL formatting for small US reporting companies have declined 45% since 2014.
The AICPA study surveyed price data from 1,032 small reporting companies for 2017 services, showing that 68.6% of companies paid $5,500 or less annually for fully outsourcing their XBRL filings.
Cost is no barrier to even small companies preparing financial statements with the global digital standard for business reporting, as the average annual cost of XBRL preparation has dropped by 45% over the last three years in the US. Recognizing that computer-readable reports make financial information easier for regulators and investors to analyse, the US […]
Join our Newsletter mailing list to
stay plugged in to the latest
information about XBRL around the world.
By clicking submit you agree to the XBRL International privacy policy which can be found at xbrl.org/privacy
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.
