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BrazilTaxonomy

SICONFI Taxonomy Released

By Dave Nitchman on October 20, 2014

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)

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ComplianceGCCIntegrated ReportingNon-FinancialRegulator

UN Committee Hears About the Benefits of XBRL

By Dave Nitchman on October 20, 2014

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 […]

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FASBTaxonomyUnited States

New CET Working Group at XBRL US

By Dave Nitchman on October 20, 2014

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 […]

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EIOPAEuropeLEISolvency II

EIOPA Issues LEI Guidelines

By Dave Nitchman on October 20, 2014

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 […]

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SpecXBRL GLXII News

XBRL GL Candidate Recommendation

By Dave Nitchman on October 17, 2014

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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Happy World Standards Day

By Dave Nitchman on October 14, 2014

The International Standards Organisation proclaimed 14 October “World Standards Day” as a way to “pay tribute to the thousands of men and women all over the world who develop voluntary standards for the advancement and welfare of societies”. So let us take this opportunity to thank the many volunteers in the XBRL consortium who are […]

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AnalysisAustraliaComplianceInvestor Relations

Abandoning the Paper Paradigm in Australia

By Dave Nitchman on October 10, 2014

Investors don’t want paper according to research by the University of Leipzig in Germany, with 96 percent of investors basing their investment decisions on information they find online (we assume the other 4% are using a dart board). And governments around the world are right behind them. According to Grant Hehir, Auditor-General of New South Wales, […]

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Open DataUnited States

Open Standards Critical to Open Data

By Dave Nitchman on October 10, 2014

An opinion piece in Government Technology Magazine advocates for using open standards as the best way for local and national governments to implement open data initiatives. The benefits cited include reducing “the cost of developing and maintaining the data, and can increase the data’s value by making it more widely used” along with creating “opportunities […]

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BankingMandateNetherlands

Cheaper Loans for XBRL Filers in the Netherlands

By Dave Nitchman on October 10, 2014

Dutch banking giant ING has announced that from 1 January 2015 it will offer discounts on loan and credit applications for SME customers in the Netherlands who provide XBRL versions of financial statements through the Dutch SBR platform.

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RegulatorRussia

Roadmap to Paperless Information Exchange in Russia

By Dave Nitchman on October 6, 2014

An Interagency Task Force meeting was held at the Central Bank of the Russian Federation to outline strategies for direct paperless information exchange, IFRS and the introduction of XBRL.

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