IFRS: Proposed Annual Improvements for 2017 Taxonomy
The IFRS Foundation has published proposals for updates to the IFRS taxonomy. Comments close on 29 January.
Latest News
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77% of Investors want independent review of XBRL financials
There is no requirement to audit or provide any level of assurance on digitally formatted XBRL and Inline XBRL financial statements. This is not in the interest of investors.
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AI to Keep Criminal Funds Out of the Financial System?
This week Rob Grupetta, Head of the Financial Crime Department at the UK’s FCA, spoke out on AI at an Anti Money Laundering (AML) event in London. With UK banks spending a reported £5 billion each year — more than the the cost of the UK prison system — on financial crime prevention, there is every […]
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ASX moves to DLT with DAH to redo CHESS
Or, hopefully less cryptically, the Australian Stock Exchange has become a blockchain, or distributed ledger first mover, announcing a decision to update its clearing and settlement system. The ASX announced this week that it would put into production the Digital Asset Holdings developed — blockchain based — system that it has been working on for the […]
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South Africa Gets Ready For Inline XBRL Filing
The Companies and Intellectual Property Commission of South Africa (CIPC) is the central government agency responsible for both the registration and regulation of companies in the country. Loyal readers may recall from our previous newsletters that since 2016 the CIPC has been undertaking a programme to develop its own XBRL Reporting Platform, so as to […]
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More Taxonomy Guidance
Designing reports that reference a number of organisations can be be challenging. Help is to hand for XBRL taxonomy authors in a new Guidance Note. Business reports frequently contain information about a range of different organisations. These might include the reporting entity itself, auditors, subsidiaries or transaction counter parties to name just the most common. A taxonomy author may […]
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Beta Version NT12 OCW Published
Did you know? The Netherlands Standard Business Reporting program goes well beyond tax and company reporting. For example, the Ministry of Education, Culture and Science in the Netherlands (OCW) has published a beta version of the OCW Taxonomy, which is part of the SBR National Taxonomy. The OCW segment of the Dutch Taxonomy 2017 includes […]
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BoE: Banks May Underestimate the Risks from Fintech
Britain’s banks may be overestimating their ability to insulate themselves from the impact of FinTech and Open Banking challenges to future profits. For the first time, as an additional part to standard stress testing, the Bank of England examined the major UK banks’ long‑term strategic responses to an extended low growth, low-interest rate environment with […]
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Need to Model Multiple Entities in a Taxonomy? Guidance now available.
Designing reports that reference a number of organisations can be be challenging. Help is to hand for XBRL taxonomy authors in a new Guidance Note.
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How Can AI Support Regulators?
On October 19th, Stefan Hunt, Head of Behavioural Economics and Data Science at the UK Financial Conduct Authority (FCA), delivered a speech about the power of machine learning and artificial intelligence (AI) for regulators. Mr. Hunt’s speech was part of the October instalment of the Beesley Lectures that have drawn high-profile leaders to deliver expert […]
