Standardisation, be it in the realm of technology or definitions/semantics, is essential for clarity, comparability and efficiency.
It’s clear that XBRL makes a lot of sense for financial reporting, and the standard’s increased uptake around the world has done much to promote financial transparency – however, currently, XBRL’s potential capabilities are being underused for non-financial reporting. Sustainability reporting is moving into the mainstream, as boosting transparency on environmental, social, and governance (ESG) […]
This week the Securities and Exchange Commission (SEC) published a rule proposal on “Updated Disclosure Requirements and Summary Prospectus for Variable Annuity and Variable Life Insurance Contracts” that would require the use of Inline XBRL. The proposed amendments are intended to “harness technology to allow investors, data aggregators, financial analysts, Commission staff, and other data […]
The US National Association of Surety Bond Producers (NASBP) says that the fast-growing uptake of XBRL data standardisation in the surety industry indicates that the day’s of re-keying data could soon come to an end. The “surety” industry is the US term for construction completion insurance: building contractors large and small are required to take […]
One of the core aims of the XBRL standard is communication: opening up access to business information, making reports easily exchangeable and readable and improving transparency. At Data Amplified, José Antonio Moreno from 2H in Mexico will be showing us how the latest developments in AI are set to bring the democratisation of data to new […]
With jurisdictions right around the world looking to enhance disclosure, more and more are now shifting to Inline XBRL, allowing human and machine-readable reports to greatly enhance reporting. At Data Amplified, we dive right in, with a case study on Reforming Reporting in South Africa, presented by Joey Mathekga of the Companies and Intellectual Property […]
Two updates from the European Banking Authority (EBA) this week: Firstly, EBA has launched a consultation on a draft version of Data Point Model (DPM) 2.9 and associated XBRL taxonomy. This new release is a draft of the new data requirements proposed in the consultations on amendments to the Implementing Technical Standards (ITS) on supervisory […]
While great progress towards machine-readable reporting has been made at federal level in the United States, the information available about the performance of state and local government entities is a very different story.
Vast quantities of quality, appropriately shared data is key to developing more efficient financial services that meets the needs of customers in the digital age. How can regulators ensure proper privacy while still ensuring that Fintech firms can access the information they need? A report from ASIFMA this week taps into the growing recognition that collaborative, homogenous regulation and data harmonisation across borders are essential for modern technologies to be properly utilised.
IBM Research’s Dr. Anna Phan demonstrated how quantum computing’s power could be transformational for the financial industry at Sibos this week.
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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.
