Regular readers understand that one of the drivers of the Legal Entity Identifier is the “No LEI, No Trade” rules that are part of the MiFID II regulations that came into effect on 3 January. When over-the-counter financial trades are completed between two parties and at least one of those parties is based in the […]
The IFRS Taxonomy team published changes to the latest version of its taxonomy to incorporate changes to the IFRS 17 Insurance Contracts accounting standard. Full details (and the taxonomy) available on the IFRS web site. Check with local regulators to understand when the update can be used for national filing arrangements.
You know what an LEI is… but do you know what a Unique Transaction Identifier is?
Speaking of IFRS… US foreign private issuers (companies outside of the United States that raise money on US markets) are heading towards filing deadlines for their first IFRS XBRL filings. If you are affected (or know someone that is) consider attending a 60 minute webinar featuring speakers from the Securities and Exchange Commission (SEC) and the […]
The SunSpec Alliance and XBRL US are hosting a 3-part webinar series on how software developers can work with the Orange Button XBRL Taxonomy and use XBRL APIs. Registration is limited to 100 attendees but the webinars will be archived for later viewing. This is an extremely innovative private sector application of XBRL to project […]
It has been a busy week, with the European Securities and Markets Authority (ESMA) submitting its final draft Regulatory Technical Standards (RTS) for the European Single Electronic Format (ESEF) to the European Commission. This publication moves European public companies one significant step closer towards digital financial reporting with Inline XBRL. Alongside the final draft, ESMA […]
After a significant amount of preparation and planning, Ukraine this week announced plans to move towards a “Hub and Spoke” based single financial reporting system using XBRL. Following passage of new accounting laws (using IFRS for disclosure), the Ukrainian authorities, including the Ministry of Finance, the National Bank of Ukraine, the National Securities and Stock Markets Commission […]
Last week we covered the work of the UK’s Financial Reporting Council Labs on XBRL. This week the FRC published amendments to their suite of taxonomies, which come following changes made to the UK GAAP reporting standards. This impacts the ~3 million companies filing Inline XBRL financial statements to the UK’s tax authority and the […]
This week, our colleagues at XBRL US submitted a response to the Securities and Exchange Commission’s proposal – FAST Act Modernization and Simplification of Regulation S-K. This comment letter advocated their support for the SECs proposal, as well as offering recommendations for improvement. Definitely worth a read, not least for the detailed analysis that XBRL […]
XBRL Tagging in IFRS Attend this free, one-hour webinar to hear from the Securities and Exchange Commission and the International Accounting Standards Board about how to prepare XBRL financials using the IFRS Taxonomy. 1:00 PM EDT Wednesday, January 31, 2018 Register here. Find more information about the Data Quality Committee here. CFA View on Standards: Why Structured […]
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