When it comes to artificial intelligence it seems that us humans have quite firm views about where we are comfortable letting machines into our lives. According to a new study conducted by banking giant HSBC, we are more likely to trust a robot to carry out open heart surgery than let a robo advisor invest […]
Project Jasper has been a year long experiment by the Canadian central bank to investigate whether blockchain, or DLT, could replace existing wholesale payments technology within that country’s financial system. The verdict? Not yet. For the moment, critical issues associated with privacy and scalability mean that the project won’t form the basis of interbank payments […]
Just as the world is shifting to wholesale reliance on digital structured data, there remains an effort within the US Congress to exempt smaller US companies. We believe that would harm transparency, hurting investors and small companies alike.
Which tools help regulators improve the ethics of market participants?
XBRL International has responded with a range of suggestions to the SEC’s call for comments on its proposals to shift to Inline XBRL.
A considerable focus at the IOSCO event was the waning of the global consensus that has driven reform in securities markets regulation since the global financial crisis. IOSCO has benefitted from clear guidance from political policy makers at the G20 level, which have then been focussed by the Financial Stability Board, turned into policy and principles at […]
As we mentioned last week, the FASB has issued an invitation to comment asking for input on ways to assess the efficiency and effectiveness of the US GAAP taxonomy. FASB’s invitation to comment provides detailed background and technical questions focused on how to make the taxonomy easier for users to navigate and how to improve […]
This proposed update incorporates the IFRS Taxonomy elements for applying IFRS 17 Insurance Contracts. The IFRS Foundation is seeking comment on this Taxonomy update with the comment period remaining open until 18 September 2017. Further information and supporting materials can be found here.
The XBRL International Standards Board has approved a draft of the Assertion Sets 2.0 specification, a modular extension to the XBRL Formula specification. XBRL Formula provides a powerful mechanism for embedding business validation rules in an XBRL taxonomy, helping to ensure data quality in reports. It is common that in a large taxonomy there will […]
Bank regulators across the world are beginning to examine the utility of having extremely fine grained data to assist with bank supervision, sectoral risk analysis, and the enhancement of monetary policy data. At a recent workshop run at the ECB, Mr Pedro Duarto Neves, Vice-Governor of the Banco de Portugal, described a number of related […]
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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.
