The IASB XBRL team is re-establishing a project to examine and develop common industry practice concepts for the IFRS taxonomy. The team is looking to work directly with companies representing a variety of industries and regions in order to increase comparability, decrease the number of XBRL extensions, and reduce the burden on preparers. The process […]
The board of directors of Securities and Commodities Authority (SCA) has approved a draft regulation for trading in capital increase issue rights. The approval, which came during a board meeting, held at the SCA’s Dubai headquarters and presided over by the board chairman, H.E Sultan bin Saeed Al-Mansoori, Minister of Economy, was part of the […]
For the purpose of development of taxonomy, insurance specific elements were identified and compiled as per the requirements of Insurance Act, circulars and regulations issued by the IRDA and various other statutory requirements and certain common practice elements based on annual reports of Insurance companies. Since the schedules for presentation of financial statements, laid down […]
The 4th XBRL Asia Roundtable was held in Suzhou during which cooperation and coordination of XBRL in the region was discussed and the establishment of an organization, XBRL Asia (tentatively named), was proposed. The proposal was jointly supported by XBRL Australia, China, India, Japan, Korea and Singapore.
EU Member States have accepted the amendments to the Directive on the Harmonisation of Transparency for listed securities requiring “A harmonised electronic format for reporting” and the specification of an “electronic reporting format, with due reference to current and future technological options, such as eXtensible Business Reporting Language (XBRL).” Read the full text. http://www.istockphoto.com/photo/glass-sphere-euro-one-6345250?st=9c3cbc3
On 16 April 2013, an official communiqué from the European Parliament indicated that the Capital Requirements Regulation (CRR) and a fourth edition of the Capital Requirements Directive (CRD IV) had been passed. The new set of rules, which are commonly referred to as the CRD IV Package will write into EU law the international Basel III guidelines for the level of financial reserves […]
US President Barack Obama issued an Executive Order setting forth principles and requirements for making US Government data open and machine-readable, including that “To promote continued job growth, Government efficiency, and the social good that can be gained from opening Government data to the public, the default state of new and modernized Government information resources […]
Financial services providers in France must also now become familiar with new players on the scene at a supervisory level, namely the pan-European supervisory authorities for banks, insurance and the securities markets. Although day-to-day supervision of financial services provider remains at a national level, these pan-European authorities, with a view to working towards a common […]
The UK is planning to adopt a stringent version of European Union (EU) rules on capital adequacy for its own underwriters, despite realizing that it will face criticism from EU members. Britain’s Prudential Regulation Authority (PRA) chief executive Andrew Bailey was quoted by Reuters as saying that the proposed rule, known as Solvency II (S-II), […]
For the financial years 2010-11 and 2011-12 a total of 2,90,39 and 2,57,86 companies respectively have filed their Balance Sheet using the revised XBRL norms with the India Ministry of Corporate Affairs.
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