Following the European Banking Authority’s proposal for amendments to the ‘Supervisory Reporting ITS’, the UK Prudential Regulation Authority has since issued their own consultation paper to reiterate and augment the intended reporting requirements. The consultation paper issued by the PRA includes numerous changes with the aim of improving the synergy between PRA reporting and the […]
Another speech looking at the lessons learned from the financial crisis was delivered recently by Mr Agustín Carstens, General Manager of the BIS, at the Ninth Irving Fisher Committee (IFC) Conference in Basel. Mr. Carstens is asking if post-crisis statistical initiatives have been completed. While we have come a long way to achieving post-crisis statistical […]
We’re pleased to announce that two more software products have gained XBRL Certified Software status. UBPartner’s XBRL Processing Engine and XT Portal products have met the stringent technical criteria that ensure the interoperability XBRL Certified Software products. Details of all certified software can be found on our certification portal. Vendors of software holding a current certification are entitled to […]
AI is quickly transforming the financial industry – with the impact on accounting already being felt. Robotic Process Automation (RPA), for example, has started to reduce some types of contractual processing times, while EY and Deloitte have started to use AI to update their document review process, with AI systems reviewing quite complex contracts after […]
In the CFA Institute’s latest paper, Data & Technology: How Information Is Consumed In The New Age, Mohini Singh takes a deep dive into how structured data is being consumed, refutes the claim that structured data is not being meaningfully utilized, and considers how investors can best take advantage of these developments in transparency. The paper […]
Regulators in many jurisdictions have mandated the use of Legal Entity Identifiers (LEI) to increase transparency and reduce risks in financial markets – however, the question of identity at a national level, and outside of the finance sector, can be complex and inefficient. The LEI ROC (Regulatory Oversight Committee) progress report recommended that individual jurisdictions […]
XBRL International is seeking candidates for both the XBRL Standards Board (XSB) and the XBRL International Nominations Committee (NomCom). The documents containing the desired attributes for potential candidates as well as instructions as to the submission of interest can be found below. To be considered for either the XSB or the NomCom, please submit the […]
The International Integrated Reporting Council published its annual report yesterday highlighting the “breakthrough moments” for integrated reporting across the globe over the last year. Established in 2010, Integrated Reporting defines a process of combining financial reporting with other aspects like a company’s sustainability, governance and strategy. The IIRC is increasingly gaining traction around the world. […]
The International Accounting Standards Board is reviewing how companies present goodwill on their balance sheets. Goodwill refers to an accounting value recorded when a company acquires another company, measuring the value of intangibles that go beyond what the physical assets alone are worth. It is a complex and at times controversial area, as it is […]
An interview with the SEC Chairman Jay Clayton at Launch Tennessee’s 36|86 Entrepreneurship Festival this Wednesday indicates that the securities regulator in the US is considering ways to make it easier for individuals to invest in private companies. Rules designed to protect “Main Street” investors from riskier private markets have put stringent income and net-worth […]
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