Last week XBRL International CEO John Turner participated in a panel at the European Commission’s high-level conference on “The future of corporate reporting in a digital & sustainable economy” in Brussels. The panel was on “Corporate reporting: time to embrace the digital revolution” and it was an excellent discussion, covering a lot of ground. John’s […]
Governments, companies, and public entities are under increasing pressure to adopt more climate friendly strategies – and central banks aren’t exempt from this expectation. But solving climate change is remote from the primary mandate of a central bank, and can actively clash with bank requirements, argues Yves Mersch, Member of the Executive Board of the […]
The IFRS Foundation published a Proposed IFRS Taxonomy Update yesterday. This proposed update includes a number of suggested changes to the IFRS Taxonomy 2018, to improve the quality of data reported using the IFRS Taxonomy and to make it easier to access and use. This is a consultation draft: issuers, users, data providers, regulators and accounting professionals should consider providing feedback to the IFRS team. You’ve got 60 days to do so, through 4 February 2019.
Remember the Y2K problem? Now imagine Y2K but without being told what number comes after “19” until December 1st 1999. That’s the challenge currently facing IT systems in Japan.
There is an increasing recognition of the importance of corporate environmental, social and governance (ESG) transparency for efficient markets and stable, resilient economies. Here at XBRL International we strongly support efforts to expand ESG disclosure, but call on policy makers and standard setters to note the vital importance of structured data to effective ESG reporting.
Data Amplified this year heard from projects facilitating the on-going and significant expansion of the XBRL standard around the world. Earlier last month we were delighted to see the Companies Commission of Malaysia (SSM) adopting XBRL for the annual and financial filings of more than 1 million companies countrywide through the introduction of the Malaysian Business Reporting System (MBRS).
In advance of the G20 Summit this month in Buenos Aires, Argentina, the International Federation of Accountants (IFAC) released a list of ten recommendations for G20 countries to support the global economy. Centring around the need to pursue smart regulation, greater transparency and inclusive growth, the recommendations are designed to help rebuild public trust in institutions and advance economic progress.
The Financial Stability Board (FSB) has highlighted the importance of encouraging innovation for financial stability in a letter that draws attention to issues for G20 leaders to consider.
What does the future of regulation look like? Is there a tension between a supervisory regime that seemingly relies on human judgement, but is increasingly investing in automation, machine learning and AI?
Mark Bissschop from SBR Banken has written an article for Accountancy World heralding the benefits of Structured Business Reporting (SBR) and calling for further expansion.
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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.
