UK’s FCA looks for ways to reduce compliance costs
How technology can make the current system of regulatory reporting more accurate, efficient and consistent.
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SEC’s Cybersecurity Interpretive Guidance
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 […]
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Taxpayers Want AI
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.
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Nominations by 28 February
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 […]
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Guidance Corner: Presenting XBRL data in tabular format
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 […]
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Orange Button Solar Finance Standards – Final Public Review
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 […]
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EBA Updates XBRL Taxonomy 2.6 for 2018 Benchmarking Exercise
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 […]
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Italian Taxonomy Updated
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 […]
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Global Fintech Sandbox proposal from the FCA
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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Streamlined Entity Verification by GLEIF and SWIFT
The Global Legal Entity Identifier Foundation (GLEIF) has published its first monthly relationship file matching a Business Identifier Code (BIC) assigned to an organisation against its LEI. This model, jointly undertaken by GLEIF and SWIFT is set to significantly streamline entity verification processes and reduce data management costs.
