The level of investment and innovation that has gone into the Fintech sector over the last few years is extraordinary. And why not? New approaches to almost every aspect of finance – taking none of today’s norms for granted – promises to deliver better services to customers, lower clearing and settlement risks, bypass intermediaries and digitise and automate huge […]
Just after we put the newsletter to bed for a few weeks, an interview with XBRL International CEO John Turner appeared. It’s an outline of a number of fields that have seen adoption around the world. You can find it here.
Trusted Open Data Ecosystems – will be held in Madrid at the end of this month, presented by Eurofiling. The goal of TODE’2017 is to look into the future of RegTech and discuss key developments within a 10+year time horizon. Participants will learn and discuss the requirements, challenges and solutions necessary to achieve transparent, efficient and […]
Did you know that the Swiss Central Bank is a listed entity? Nope, it was new to us too. Over the northern hemisphere summer the price of that stock went through the roof. The reasons aren’t all that obvious. Anyone got a theory? Read more.
An important part of high quality structured data is the application of business rules that uncover simple mistakes and business logic errors. XBRL International urges all regulators to use machine executable business rules in order to significantly enhance data quality. To help environments that report based on the IFRS accounting standards, the IFRS Taxonomy Formula Linkbase […]
Ok… so this might seem mundane, but really, it isn’t. One of the many useful features of XBRL is the ability to enforce consistent measurement. One of the ways that the standard does that is through the Units Registry which is a set of authoritative definitions of units of measure that are machine readable. Many […]
SBR or Standardised Business Reporting is a proven way to reduce red tape cheaply and effectively. The strategy is a simple one: find all of the duplicative reporting requirements in government, analyse the definitions that are similar but not identical, and work to conform or harmonise those definitions. If a government has five different agencies that collect information […]
Over on the CFA Institute blog, there is a cautionary tale from Norb Vonnegut, parsing three key lessons from the Bernie Madoff ponzi scheme. Useful for regulators (of all kinds) and investors alike, it’s worth a read. He points out that these kinds of financial frauds: provide what is really a sales pitch wrapped up as due […]
Right on schedule, the European Insurance and Occupational Pensions Authority (EIOPA) has published the final 2.2.0 version of the EIOPA XBRL taxonomy. The Taxonomy is here. The guide is here. For more general information, look here.
An in depth interview with Bloomberg’s Global Regulatory Monitor, Mr Emil Efthimides in this week’s Dimensions report from Merrill Corporation (registration required) should be of interest to regulators, companies and accountants alike. Bloomberg already pulls XBRL data directly from Japan, Korea, China, Taiwan, Israel, Mexico and Brazil, but it has now been consuming the more complex […]
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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.
