The Bank of England’s Prudential Regulatory Authority recently held a seminar of insurance industry members on Solvency II, providing information on what firms need to do to prepare for transposition on 31 March 2015 and implementation on 1 January 2016. Topics included a full policy and implementation overview, modelling, technical information and more.
Following a two year testing period, an extension of the Italian GAAP Taxonomy to include Notes to financial statements has been completed. The initial version of the taxonomy will only cover information explicitly provided for in the Civil Code, with further integration with national accounting standards to come. The tagging of notes will come into effect […]
Urging the US Department of Commerce to explore leading a Standard Business Reporting (SBR) initiative in the US was among one of the more interesting findings in a report released by New York University’s GovLab this week. The report details recommendations from a roundtable held earlier this year that explored the potential of open data […]
Workiva has filed an S1 form with the US Securities and Exchange Commission in preparation for a proposed initial public offering on the New York Stock Exchange. Workiva (formerly Webfilings) is the company behind WDesk, a leading disclosure management and report management collaboration platform for SEC XBRL filings, among other things. Workiva is an XBRL US member. Read the […]
XBRL International has released its first “XBRL Taxonomy Guidance Document”, which links specific reporting goals to architecture design options and observed good practices.
The Brazilian Treasury (Secretaria do Tesouro Nacional) has released a preliminary version of their basic taxonomy for the Public Sector Accounting and Fiscal Information System (SICONFI) project, including the Statement of Annual Accounts, composed of entries for the Balance Sheet, Budgetary Revenues, Budgetary Expenditures, Expenses by Function, Payables and Changes in Equity. The taxonomy is viewable here. (Portuguese)
Delegates at the International Standards of Accounting and Reporting workshop as part of the UNCTAD World Investment Forum were briefed on the benefits of XBRL in Geneva this week.The program highlighted how to address challenges in corporate reporting, social responsibility, environment protection, and corporate governance. XII Best Practices Chair Ian Hicks offered his perspective on how XBRL supports […]
A new XBRL US Working Group covering the Construction, Energy and Transportation (CET) industries, is working on the untapped potential for XBRL’s use in the private sector. The working group will spearhead the extension of the US GAAP Taxonomy to cover the processing of surety bonds, which provide financial guarantees to a project’s owner that […]
EIOPA has issued guidelines on the use of the Legal Entity Identifier (LEI) by national competent authorities to allow the use of these unique identification code for insurance and reinsurance undertakings across Europe. Unless their national regulator advises differently, regulated institutions that need to apply the Solvency II Directive must apply for their LEI(s) by 30 June […]
After a careful process of review, the XBRL Global Ledger 2014 Specification has been given Candidate Recommendation status, meaning it is meets all identified requirements, and is ready for implementation in software. The XBRL Standards Board is also issuing a Call for Implementations, to identify necessary modifications. The XBRL GL Working Group will accept comments […]
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