While we were off the air, there were plenty of developments around the world that you might have missed including: Focus on Cyber Risks. Worried about having your information stolen? You’re not the only one. Last month, the European Insurance and Occupational Pensions Authority (EIOPA) published its report “Understanding Cyber Insurance – A Structured Dialogue […]
A recent Central Banking magazine survey conducted in conjunction with Bearingpoint, shows the increasing importance of big data to central banks – however, also highlights that there are data quality and management issues that need improving to maximise the potential of this information. Working with big data is fast becoming a mainstream activity for central […]
Digital technologies from blockchain to AI and big data to XBRL’s own computer-readable reporting format are transforming global business and the financial world. The world’s four largest auditors – Deloitte, Ernst & Young, KPMG and PwC – are working with 20 Taiwanese banks to test blockchain technology that provides a new way to conduct bank […]
In May, India’s Securities and Exchange Board (SEBI) updated their regulations with a package of updates, some of which will begin to take effect from 1 October 2018. The updates are designed to enhance corporate governance by improving the structure, checks and balances and independence of boards, auditors and other gatekeepers. Importantly, the amendments included […]
As reported in July, it was great news to hear that the cost of XBRL formatting for small US reporting companies have declined 45% since 2014.
The AICPA study surveyed price data from 1,032 small reporting companies for 2017 services, showing that 68.6% of companies paid $5,500 or less annually for fully outsourcing their XBRL filings.
Cost is no barrier to even small companies preparing financial statements with the global digital standard for business reporting, as the average annual cost of XBRL preparation has dropped by 45% over the last three years in the US. Recognizing that computer-readable reports make financial information easier for regulators and investors to analyse, the US […]
In a guest article on the XBRL International Blog this week, Mohini Singh summarises aspects of the CFA Institute’s submission to the European Commission’s ‘Fitness Check on the EU Framework for Public Reporting by Companies’ consultation. The Institute urges policymakers to ‘see the power of XBRL in facilitating analysis for investment decision-making,’ arguing that ‘lowering the barriers in […]
The UK’s Prudential Regulation Authority (PRA) has set out proposals for minor regulatory reporting amendments. This consultation is relevant to banks, building societies, PRA-designated investment firms, and dormant account fund operators. The proposals would result in changes to the Glossary, Regulatory Reporting, Reporting Pillar 2, and Close Links Parts of the PRA Rulebook. The authority […]
Recognising that in today’s visual age, elegant graphics can transform data into a powerful language, the Financial Times appointed Alan Smith as their first Data Visualisation Editor. This month, at the ECB Statistics Conference, Smith shared the FT’s strategy and guidelines for a visual vocabulary which will help your data tell a story rich in […]
The Financial Stability Institute (FSI) has published a new report on innovative technology in financial supervision (or “Suptech” as it seems be known). Examining the experiences of early users of this new technology, the report yields some useful insights into the potential benefits – and risks – for supervisory agencies adopting a Suptech strategy. Read the […]
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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.
