With an eye on innovation and competition, Canada’s government is set to conduct a review into the merits of introducing an Open Banking regime which would give consumers the ability to share their financial data with chosen third parties. It is hoped that by making it possible for people to open up access to their […]
How technology can make the current system of regulatory reporting more accurate, efficient and consistent.
It is difficult to overstate the importance of cybersecurity in today’s digital world. Indeed, you would be hard-pressed to find an institution that does not fundamentally rely on the protection of their digital information and assets for their ultimate longevity. With an acute awareness of the risks surrounding this issue, the Securities and Exchange Commission […]
Apparently, most people worry that they are not paying the right amount of tax, and are unsure whether they understand the requirements accurately. According to a a survey run by Accenture, nearly 70 percent of taxpayers would like to see artificial intelligence improve the accuracy of tax filings. There’s more here.
Don’t forget that the XBRL International Nominations Committee is looking for applications from suitable qualified senior professionals to join the XBRL International Board. The Board of Directors is comprised of senior leaders and experts with broad international experience in financial, business and regulatory reporting, accounting, technology and standards setting. The Nominations Committee is particularly interested […]
The presentation of XBRL data in tabular form and templates helps people understand the reporting requirements, and therefore the data, in a closed reporting environment. XBRL’s Table Linkbase Specification makes it possible for taxonomy authors to define the presentation of data in a format that is familiar to business users. The “Table Linkbase” is a terrible name […]
Standardisation has arguably been the pivotal mechanism for the widespread adoption of many pioneering technologies. SunSpec Alliance and XBRL US have been collaborating to bring standardisation to the domain of solar energy projects. The key product of this collaboration is the Orange Button Taxonomy, which has just been released for a second 30-day public review […]
The European Banking Authority (EBA) has published a hotfix update (Version 2.6.0.1) to its XBRL taxonomy and supporting data point model. The update will be of significance to National Competent Authorities submitting data on bank internal approaches, as part of the 2018 benchmarking exercise. This is therefore relevant to CRD IV software vendors as well […]
Italian private companies have been filing annual accounts to their Corporate Registrar in XBRL format since 2008 and rely on an Italian taxonomy rely on a taxonomy for Italian GAAP (generally accepted accounting principles). This taxonomy is updated to reflect changes in these principles, and on cue for 2018, a new version of the taxonomy […]
After a strong showing in its domestic market, the UK’s Financial Conduct Authority (FCA) is looking into the creation of a global regulatory sandbox. Such a move would enable fintech firms to carry out tests in different countries at the same time, while also helping watchdogs to identify and solve common cross-border problems. Regulatory “sandboxes” […]
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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.
