2017 was a good year for Financial Reporting. Alongside the first truly international accounting standard for insurance contracts (IFRS 17), the foundation has also made substantial progress in improving communication in financial reports, with more regulators requiring the use of the IFRS taxonomy. Now, 144 different jurisdictions and 15 out of the 20 G20 economies […]
Now you can find out. Well, at least for the IFRS’s Conceptual Reporting Framework anyway. Following a reissue of their Conceptual Framework in March this year, the IFRS Foundation has now released a quiz to test your knowledge and understanding. As those who stand a chance of getting it all right will already be aware, […]
In Budapest, at IOSCO’s annual conference, the world’s securities regulators met together with industry leaders this week. At the opening of the public day on Thursday, IOSCO Secretary General Paul Andrews described the work that the international securities organisation has done over the last 12 months, addressing a host of issues, including on questions associated […]
Michael Piwowar has announced his plans to leave the US Securities agency upon the official end of his term on July 7, 2018, or the swearing in of his successor – whichever comes first. Mr Piwowar highlighted his intentions to move on whilst also remarking “we accomplished a great deal for the ‘forgotten investor’ in […]
Did you know that South Africa was recently ranked first out of 115 countries for the transparency of its national budgeting process? And did you know that South Africa has been within the top 3 on this Open Index since 2010? Expanding its focus on transparency, South Africa is now preparing for its next big […]
XBRL’s success as a standard is due in no small part to its interoperability, ensuring that reports created in one product can be consumed in another. This interoperability doesn’t just happen, but is the result of the tireless commitment of volunteers in our working groups. These groups work to resolve any reported interoperability issues through […]
The last few years have seen a real surge in the uptake of so called “sandboxes” by regulators across the globe. Our regular readers will be well aware of the increasing adoption of such schemes and the burgeoning drive to encourage innovation and the use of new technology to improve the delivery of financial services, […]
The USAID-funded Transformation of the Financial Sector in Ukraine project has announced a tender for the development and implementation of a Financial Reporting System based on XBRL documents for the Ukrainian Financial Regulators. Proposals are due by 5 June. More details and links to download the tender are now available from the news section of our website.
In a world where cybercrime continues to be emphasised (and all too often, experienced) as the new behemoth for businesses to ward off, the question remains – how much cybersecurity do you need? Recent research by Lloyds Bank seems to suggest that ‘more’ is currently the de facto position of most institutions. Nearly 90% of […]
Collaborative research between GLEIF and the research agency Loudhouse has identified a number of key challenges with legal entity identification in the financial sector. The research surveyed over 100 senior salespeople in the banking sectors of the UK, US and Germany. One of the key findings was that almost six in ten (57%) respondents spend […]
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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.
