The Ukrainian National Securities and Stock Market Commission announced this week that it has signed a MOU, together with its international partners from USAID and the EU’s FINSTAR program, to procure and implement a new Inline XBRL based Financial Reporting System, covering public companies, the financial sector as well as a range of large enterprises. As […]
The UK’s Financial Reporting Council Lab has sent out a call for those working on the potential uses of Artificial Intelligence for the production and consumption of corporate reporting to participate in the next phase of the Digital Future project. The Lab’s innovative Digital Future project is an initiative to investigate the impact of technology […]
Using a big data approach to drive analytics of large quantities of XBRL data, with necessary data structuring, aggregation, ordering and filtering controlled directly from the XBRL taxonomy (the business-led data definitions) has been something of a holy grail for regulators and other large scale users of the standard for many years.
With the headlines filled with stories about Big Tech’s failings in data privacy and security, questions about how data is stored, used and collated, especially with AI, are suddenly urgent. The Monetary Authority of Singapore has announced that it is investigating regulating the ethical use of the technology and data analytics more generally for consumer […]
The European Insurance and Occupational Pensions Authority (EIOPA) welcomes feedback on draft amendments to their implementation regulations on reporting and disclosures. EIOPA plans to modify the guidelines on financial stability information and adopt new validations, which will be incorporated in the XBRL taxonomy version 2.3.0 to be published in July 2018. Contributions and comments can […]
Worried about GDPR yet? You are not alone. Many organisations are still facing up to the challenges of complying with the new regulation that will come into force next month. While many have their attention focused on the eye-watering penalties that accrue to those who fail to meet the requirements of this globally-relevant EU regulation, it may be worth […]
With so-called “FPIs”, or firms that raise money on US markets while domiciled elsewhere, now obliged to file IFRS financial statements with the SEC in XBRL or Inline XBRL format, the SEC has provided an updated set of (relatively technical) FAQs. Got questions? The FAQs are here.
Fed up providing feedback on new taxonomy releases and validation rules? We thought not. And just as well. The XBRL US Data Quality Committee (DQC) this week announced that it has initiated a public review period for its sixth-set of freely available proposed rules, which now includes rules for foreign private issuers (FPI) filing using the […]
With XBRL filing rules impacting some 17,000 financial institutions in Russia, XBRL Russia through the Department of XBRL Technologies at the Bank of Russia will be running a series of educational workshops. Starting in April, this four-part webinar series will cover XBRL use for insurers, pension funds, management companies, broker/dealers, and more. More here.
The IASB today issued an updated version of its Conceptual Framework for Financial Reporting. The Conceptual Framework provides the foundations for the IFRS standards, helping reporting entities, regulators and the standards setters themselves with the rationale behind financial reporting concepts and objectives. Last updated in 2010, the framework: Confirms the objective of financial reporting and clarifies the role of […]
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