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Machine Readable Financial Reports for EU Issuers

By Editor on December 22, 2017

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 […]

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Ukraine Moves To Minimise Red Tape, Centralise Reporting

By Editor on December 22, 2017

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 […]

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FRC 2018 Taxonomies Amended

By Editor on December 22, 2017

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 […]

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XBRL US Comments on SEC FAST Act Modernization Proposal

By Editor on December 22, 2017

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 […]

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EVENTS AROUND THE WORLD

By Editor on December 22, 2017

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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And that’s a wrap!

By Editor on December 22, 2017

2017 has been an extremely important year for the global shift towards structured digital reporting using the XBRL standard. On the adoption front we’ve seen securities market regulators recognise that the technological and regulatory changes impacting capital allocation require a wholesale shift away from paper to data. We’ve seen major countries, including Russia, adopt the standard for […]

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Central BankSecurities and Exchange CommissionUkraineXBRL

Ukraine Moves To Minimise Red Tape, Centralise Reporting. 

By Editor on December 22, 2017

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.

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BPBGuidanceIGTFTaxonomy

How to publish a Taxonomy? What are Taxonomy Packages?

By Revathy Ramanan on December 19, 2017

Taxonomy is at the heart of an XBRL program, publishing taxonomies for stakeholder consumption needs to be given a careful thought. Guidance note now is available for taxonomy owners. The Best Practices Board’s Implementation Guidance Task Force have come-up with guidance for the right way of publishing a taxonomy and business-friendly explanation of Taxonomy Packages […]

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AnalysisFRCInline XBRLXBRL

Financial Reporting Lab: Digital Future of Corporate Reporting

By Editor on December 15, 2017

The UK’s FRC Lab says that the changing demands of users, supported by upcoming regulatory changes mean that boards can no longer ignore digitisation of listed company reporting. In a new report it urges regulators, investors, vendors and issuers to work together to maximise the benefit of Inline XBRL reports.

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IFRS

IFRS publishes Preparer’s Guide

By Editor on December 15, 2017

The IFRS taxonomy is used to create digital financial statements that conform to the International Financial Reporting Standards. The IFRS Foundation has now published the first version of a Preparer’s Guide to using this taxonomy.

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