Making news around the world this week was the UK’s Information Commissioner Office (ICO) ruling on a contract between Alphabet’s DeepMind and one of the UK National Health Service regional trusts. Part of a trial to determine the utility of artificial intelligence in the delivery of medical services, the DeepMind system uses a mobile app […]
An additional set of business rules have been released by XBRL US this week for review and implementation. Machine executable rules that cover the business logic of business reports and catch mistakes at source are a key part of reporting with XBRL and XBRL US’s Data Quality Committee is filling the gap that exists in the […]
Preparations for 2020 have already started at the European Securities and Markets Authority, which announced this week that it is seeking volunteers for Inline XBRL field tests. These will consist of transforming annual financial reports from issuers into Inline XBRL documents, in accordance with ESMA’s draft of the European Single Electronic Format (ESEF) specification. Annual […]
The International Monetary Fund (IMF) has published a staff discussion note on ways that distributed ledger technology can improve the global economy. What impact might FinTech have on financial services and how should regulators respond? In its paper, the IMF sets out an economic framework for thinking through the channels that FinTech might provide solutions. […]
The XBRL International Best Practice Board is seeking volunteers/participants for the Implementation Guidance Task Force (IGTF). Do you want to assist in shaping the future of XBRL reporting and in establishing best practices for XBRL usage in different environments? This is a perfect opportunity for you and your organisation to enhance your reputation as XBRL […]
Like many public sector agencies, the Japanese National Tax Authority faces an increased work load, while at the same time experiencing diminished operating budgets. Working smarter is the only realistic option for many government agencies. At the NTA, the routine use of Artificial Intelligence is a key part of its response to the situation. In […]
Some types of audit require significant amounts of low level work reviewing inventory levels. Literally counting the products and materials in warehouses to ensure that they tally with the information contained in a company’s ledger. Leading audit firm EY is experimenting with ways to take the drudgery out of that work, with a proof of […]
Data is the lifeblood of any organisation. Today, companies, regulators, accountants and business advisors are striving to reshape the way that data is managed and reporting works to take advantage of modern technologies, evolving data management techniques and new ways to make standardisation work. Hosted by XBRL International, the global Data Amplified conference is designed […]
With XBRL reporting capabilities well and truly bedding down within banks across the EU, the European Central Bank has started to extend the use of the standard, with the first of its own taxonomies. The new initiative allows reporting of additional information required to fill some reporting gaps amongst smaller financial institutions. The ECB joins […]
Recently, there has been a research conducted by an official of the National Bank of Cambodia on a comprehensive plan for reform of its off site surveillance and monetary policy data collection functions that will see that central bank shift to utilise XBRL for data collection from banks and other deposit taking institutions over the […]
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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.
