FASB invites feedback on future agenda priorities
The Financial Accounting Standards Board (FASB) is seeking stakeholder input on its future standard-setting agenda.
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ESMA consults on digitalising sustainability and financial disclosures
On 13 December, the European Securities and Markets Authority (ESMA) published a consultation outlining its proposals to extend the European Single Electronic Format (ESEF) to sustainability reporting.
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Global alignment with ISSB standards gathers pace
The push for globally harmonised sustainability reporting has gained traction in the past month as regulators in Pakistan, Malaysia, Qatar, the UK, and Hong Kong announce or propose the adoption of ISSB or ISSB-aligned standards.
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EBA publishes final technical package for reporting framework 4.0
The European Banking Authority (EBA) has released the final technical package for its 4.0 reporting framework, set to apply in the first half of 2025. This package introduces the new Data Point Model (DPM) semantic glossary and enhances reporting capabilities with the DPM 2.0 methodology.
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FASB releases 2025 taxonomies for public use
The Financial Accounting Standards Board (FASB) has published the 2025 GAAP Financial Reporting Taxonomy (GRT), SEC Reporting Taxonomy (SRT), and GAAP Employee Benefit Plan Taxonomy (EBPT), alongside the 2025 DQC Rules Taxonomy (DQCRT) and GAAP Meta Model Relationships Taxonomy (MMT). Together, these are referred to as the “FASB Taxonomies.”
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ESMA releases 2024 taxonomy for public use
The European Securities Markets Authority (ESMA) released on Wednesday its 2024 taxonomy and conformance suite. This release incorporates the Calc 1.1 specification into the requirements by way of the IFRS 2024 taxonomy, adopts the IFRS 2024 taxonomy and makes some minor changes to business rules.
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Kuwait launches mandatory XBRL disclosure system
The Capital Markets Authority (CMA) of Kuwait has officially launched its mandatory Ifsah 2 XBRL Disclosure System as of 5 January 2025.
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California seeks input on corporate greenhouse gas and climate risk reporting
The California Air Resources Board (CARB) – the regulator responsible for protecting California’s public from the impact of air pollution and developing action on climate change – has issued a request for comment (RFC) to shape the implementation of two climate-related programmes.
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China publishes first sustainability disclosure standard for businesses
The Chinese Ministry of Finance (MOF), in collaboration with multiple ministries and institutions, has released the ‘Sustainability Disclosure Standards for Business Enterprises – Basic Standard (Trial)’.
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SEC finalises rule for key filings
The US Securities and Exchange Commission (SEC) has published its final rule mandating the use of structured data formats, including Inline XBRL and XML, for certain regulatory filings under the Securities Exchange Act of 1934.
