The level of co-ordinated focus, at a national as well as at a pan-European basis, on improving data quality is very impressive, although clearly it is still early days.
Legislation that would require all of the US federal financial regulators to replace existing disconnected, often manually prepared, reports and forms with consistent data standards for all the information they collect under securities, commodities, and banking laws was introduced this week. This legislation has the backing of a bipartisan group of lawmakers. If passed it […]
The Central Bank of the Russian Federation’s Board of Directors has approved a plan for non-bank financial institutions (NFIs) to report in XBRL
The Australian Securities & Investment Commission, as part of its efforts to “assist companies in dealing with the complexity of financial reporting and allow users to better navigate financial reports” now encourages companies to file financial reports in iXBRL, removing the need for separate lodgement of a PDF-format or paper financial report. Since July 2010, companies that […]
As part of the legislative process, proposed laws in the US are first examined by committees of lawmakers, who call witnesses to testify on how the proposed Bill will impact various stakeholders. It’s an important bit of political theater but rarely provides anything in the way of new information. That was the case at a […]
The US Securities and Exchange Commission continues to seek to leverage interactive data for greater transparency. This week the body proposed rules to require companies to disclose the relationship between executive compensation and the financial performance of a company using XBRL. The goal is to provide greater transparency and allow shareholders to be better informed […]
The US SEC provides rendering previewers for filers to test how an interactive data submission will appear on the SEC’s website when submitted via EDGAR. Rendering is important because it adds back in the human readability component of machine readable XBRL data, which enhances usability. Learn more or access the viewer directly.
The IASB has published the 2015 Formula Linkbase. Updates include implementation of generic labels for each formula group; revised schema imports; and revised human-readable validation messages. The IFRS Formula Linkbase may be used for filings with the IFRS Taxonomy directly, regulatory extensions to the taxonomy or with entity specific extensions. Learn more.
The Brazil GAAP Commercial and Industrial Taxonomy has been added to XII’s list of Acknowledged Taxonomies. XII’s multi-step Taxonomy Recognition Process validates the conformance of the taxonomy to the XBRL specification, determines that a taxonomy has been correctly authored, and that it has had sufficient input from the public and meets the needs for which it was created. Learn more.
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