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Empowering boards to embrace sustainability obligations practical guidance

November 11, 2023

Accountancy Europe, ecoDa, and ECIIA have jointly issued a guidance document to assist boards in integrating environmental, social, and governance (ESG) factors into their business models. It comes in response to the growing demand from stakeholders, regulators, and policymakers for enhanced sustainability performance and transparency from companies.

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Municipal reporting and the implementation of the FDTA

November 11, 2023

XBRL US held its GovFin2023 conference in Washington DC yesterday. The event brought together a significant number of experts from the XBRL community, US regulators as well as state and municipal reporting experts to discuss the upcoming implementation of the Financial Data Transparency Act or FDTA.

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IFAC and CA ANZ release quality management toolkit for smaller practices

November 11, 2023

The International Federation of Accountants (IFAC) and Chartered Accountants Australia and New Zealand (CA ANZ) have launched a quality management toolkit aimed at aiding small- and medium-sized practices (SMPs) in adopting the International Auditing and Assurance Standards Board’s (IAASB) suite of quality management standards.

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IFRS Foundation proposes updates to the IFRS Accounting Taxonomy 2023

November 11, 2023

The IFRS Foundation has proposed updates to the IFRS Accounting Taxonomy 2023. This Proposed Update 2 addresses three key areas: common practice for financial instruments, general improvements, and technology updates.

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Data-Quality Corner: highlights from SEC comment letters

November 11, 2023

As we discussed last week, comment letters from the US Securities and Exchange Commission (SEC) can be a useful resource – not just for the individual companies they are addressed to, but for many of us using Inline XBRL both stateside and elsewhere.

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SEC’s climate disclosure rule delayed with investor support for scope 3 reporting

November 3, 2023

In a “fireside chat” last week, the Securities and Exchange Commission (SEC) Chair, Gary Gensler, refrained from confirming the release date of the pending US climate disclosure rule, indicating further delays, possibly into 2024.

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Switzerland to introduce labelling and disclosure rules for sustainable investment products

November 3, 2023

Switzerland’s Federal Department of Finance (FDF) is set to propose rules which will involve regulating the use of labels like ‘sustainable,’ ‘green,’ or ‘ESG’ on financial products.

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CPMI streamlines ISO 20022 data for efficient cross-border payments

November 3, 2023

The Committee on Payments and Market Infrastructures (CPMI) a part of the Bank for International Settlements (BIS), has released harmonized ISO 20022 data requirements, establishing a consistent minimum set of messaging standards to enhance the efficiency of cross-border payments.

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EBA unveils technical package for phase 3 of reporting framework

November 3, 2023

The European Banking Authority (EBA) has published the technical package for phase 3 of version 3.3 of its reporting framework. This package comprises standard specifications, including validation rules, the Data Point Model (DPM), and XBRL taxonomies, specifically designed to facilitate the new reporting on Interest Rate Risk in the Banking Book (IRRBB).

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European supervisory authorities unveil joint independence criteria

November 3, 2023

The European Banking Authority (EBA), European Insurance and Occupational Pensions Authority (EIOPA), and European Securities and Markets Authority (ESMA) have jointly released criteria on the independence of supervisory authorities.

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