As referenced in last week’s newsletter, Germany’s banks and credit institutions have banded together with the government and XBRL Germany to develop an SME credit reporting system that leverages existing capabilities to generate XBRL financial statements for tax reporting. It’s called the DiFin system. DiFin offers a secure web services-based gateway. It also provides some specific legal […]
As expected, the IFRS Foundation has published its 2018 updates. Find all of the details here.
The US securities regulator has now officially accepted both the 2018 GAAP Financial Reporting Taxonomy and the newly created 2018 SEC Reporting Taxonomy (SRT) following the January release of the taxonomies to the SEC for review.
Florida is in the last stages of finalising legislation that will require the collaborative design and implementation of XBRL based reporting from municipalities. Comprehensive Annual Financial Reports (CAFRs) will go digital.
The IFRS Foundation is expected to publish today its new Taxonomy for 2018 which includes a number of updates from the IFRS Taxonomy 2017. The 2018 Taxonomy will incorporate the IFRS Update for IFRS 17 Insurance Contracts issued in January 2018. Alongside the 2018 update, the IFRS Foundation will also be publishing further Taxonomy amendments for both Annual […]
When preparers can run business rules over their draft reports before they submit their data, they can be confident about it. Furthermore, regulators get much better information. Large sets of public validation rules are extremely valuable in managing data quality, but they they can also be complex to maintain and test. The European Banking Authority […]
The Securities and Exchange Commission (SEC) has updated its test suite to include tests that use the US GAAP, SEC Reporting, Document and Entity Information, Exchanges, State and Province and Risk-Return 2018 taxonomies. The SEC’s public test suite helps vendors test their software, and gain confidence that their systems will produce filings that will be […]
Contributed by Slawomir Skrzypek, Business Development Director – Fujitsu EMEA Center of Excellence for Interstage XWand. Fujitsu, a Sustaining Partner of XBRL International, ran its 3rd Annual Interstage XWand Users’ Meeting on March 9th in Dubrovnik last week. The meeting was attended by representatives of regulators, filers, software vendors, and software integrators from over 20 countries. Attendees had a […]
The debate on regulating innovation is often laden with prejudices and undue simplifications. Chair of the EBA, Andrea Enria, recently spoke on how the European Banking Authority expects supervision and regulation of the Fintech market will work. Identifying the inherent problems of both the strict need to protect the financial system and citizens and 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.
