Earlier this year we reported on the launch of Germany’s Digital Financial Report system, DiFin, which leverages existing capabilities that exist in Germany to generate XBRL financial statements for tax reporting, to be reused in bank credit assessments. DiFin is a voluntary system, offering a secure web-based services gateway, and some specific legal protections for tax advisors […]
Research published in the British Journal of Research looks at how best to utilise the expertise of forensic accountancy to improve corporate governance in India. Recent accountancy scandals have rocked confidence in India’s financial reporting practice and the effectiveness of corporate governance. Well trained forensic accounting professionals, by helping companies detect and prevent fraud and […]
On September 20 The Japanese Ministry of Economy, Trade and Industry announced that Manabu Mizutani, former president of PCA and lead vice chairman of the Computer Software Association (CSAJ), is this years’ winner of the “Individual Award for Contributions to Digitisation.” Mizutani-san is a leading member (and a Director) of XBRL Japan and our congratulations […]
Can we apply the lessons from the history of the first three industrial revolutions to the fourth to secure a future that benefits all? Mark Carney, Governor of the Bank of England, examined the scope, scale and speed of the rise of AI, big data and machine learning in his Whitaker Lecture at the Central […]
The Financial Accounting Foundation (FAF) and the Financial Accounting Standards Board (FASB) have issued release notes describing the proposed technical improvements to the 2018 US GAAP Financial Reporting Taxonomy. The release notes address technical improvements to the 2018 taxonomy based on public comments, common reporting practices, improving utility, reducing inconsistencies and enhancing the intended uses […]
President of the European Central Bank, Mario Draghi, argues that the disjointed nature of national supervision and resolution in Europe in 2008 led to markets fragmenting down national fault lines – with individual nations creating negative spillovers by defending domestic policy at the expense of united efficiency and stability.
Here at XBRL International, strongly believe that access to transparent, high-quality data can create a fairer, safer financial environment. Earlier this month, the SEC gave us an example of the potential data has to prevent and find fraud. On 12 September the Commission charged a New Jersey-based broker with misusing his access to customers’ brokerage […]
This summer we’ve talked a lot about new SEC rules requiring the use of Inline XBRL for US financial reporting, but if you’re still getting your head around questions like “Why now?”, “What the change is going to mean?” and “How to prepare for the transition?”, this weeks episode of the Financial Executives International Podcast […]
Last week saw the World Economic Forum’s Annual Meeting of the New Champions, this year held in Tianjin, China. A host of debates and presentations are available to view and read from the global summit. Talks tackled the global collaboration and standards necessary to ensure the interoperability of Fourth Industrial Revolution technologies such as AI, […]
In a speech this week, Steven Maijoor, the ESMA chair, reiterated how the democratisation of information and increased scope for AI applications presents a novel chance to build a better, more trusting future. The notion that information can, in the most profound of ways, radically transform markets is clear. Combined with the fact that many […]
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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.
