We reported earlier on a — rather politically motivated — legislative attempt to curb XBRL reporting by smaller US companies. This week there are four new or expanded open data initiatives underway in the US. Chief among the proposals is related to the DATA Act. The Administration will issue data element definition standards and standards for exchanging […]
A survey of GRI data and 67 filing entities across the Middle East shows an uptick in sustainability reporting, especially in the energy sector.
The German government has released an open data action covering the Federal, State and local levels, base on the G8 Open Data Principles released in 2013.
A culture of open data and transparency is the goal of Italian NGOs seeking to remove barriers to accessing government information by the general public and the media. They are after basic Freedom of Information at the moment, but could it lead to greater access to open data like the kind we are seeing in […]
Revised taxonomies that meet the needs of changed regulations under EU-adopted IFRS and the new FRS 101 and FRS 102 standards are “an important step in making corporate reports more transparent and accessible to investors” according to Melanie McLaren, Executive Director Codes and Standards at the UK Financial Reporting Council (FRC). HM Revenue & Customs (HMRC) and Companies […]
“Keep calm and educate” is what XBRL and DTC leaders are saying in response to legislation in the US Congress that would give new life to previously derailed efforts to exempt public companies with less than USD $250M in gross revenue from reporting in XBRL.
Accenture and PwC have released reports based on surveys of business executives worldwide on the impacts Big Data is having on the decision making process. According to the Accenture report, executives say big data is delivering positive results in a variety of areas, including new revenue generation, new market development, enhanced customer experience and improving enterprise-wide […]
Tim Mohin, Director of Corporate Responsibility for Advanced Micro Devices (AMD), is of the mind that to be truly effective in changing behavior and bringing value to investors and watchdogs alike, sustainability reporting needs to become more focused on the most important issues. “While transparency can drive comparison – and action,” he says, “Too much transparency can, ironically, […]
Using recent XBRL filings, Rani Hoitash from Bentley University and Udi Hoitash from Northeastern University attempt to prove that “high volume and more unique company-specific accounting information” as measured by the number of US GAAP XBRL Taxonomy tags reported in company annual filings, along with the number of customized XBRL tags, leads to poor financial reporting quality. Read the paper.
Prabha Chinien, Registrar of Companies for Mauritius, outlines the benefits to both the local business community and government agencies as the country’s Corporate and Business Registration Department transitions to XBRL filing.
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