How does government plan for the introduction and utilisation of Artificial Intelligence? Data. Without data, AI is a boat without a paddle. The United Arab Emirates is moving toward their vision of being a leader in the “Age of Artificial Intelligence” by creating a national data portal which contains open data on several major industries […]
Do you use a bank website or app? Does it meet your needs and expectations? Is it easy to use? Does it combine data from multiple sources in order to provide you with valuable insights about your personal or business finances? Thought not. That’s the insight that has given rise to the Open Banking initiative […]
A terrifying study out this week from IFAC says that the burden on internationally operating businesses caused by different regulatory arrangements is in excess of $780 billion USD. That’s more than the GDP of Switzerland. Or Malaysia and Singapore combined. It’s half the GDP of Brazil, population 200M+!
Regulators are streamlining identity by adopting the LEI. With more than 1.2 million LEIs already acquired by companies operating in financial markets, this global identifier is now the preferred solution for regulatory reporting right around the world.
The Reserve Bank of India (RBI) has banned regulated banks and their customers from dealing in cryptocurrencies. In an April 6 statement, the central bank announced that its regulated entities may not deal with or provide services to any individual or business dealing with or settling virtual currencies. Moreover any bank currently in a trading […]
The US Treasury has launched a new analytics portal based on public spending data it collects through the DATA Act. The platform makes it easy to access the data on government appropriations and the activities, contracts, and grants they fund – across all US Federal agencies, searchable on a single platform. Other countries considering the opportunities […]
The agenda and papers for the next IFRS Taxonomy Consultative Group meeting, to be held on 19 April 2018, have been published. The topics for discussion will include: Principles of Disclosure IFRS Taxonomy—Technology review IFRS Taxonomy implementation support IFRS Taxonomy content—areas for discussion Handling of entity-specific disclosures Common practice analysis—IFRS 13 Fair Value Measurement IFRS Taxonomy […]
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.
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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.
