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Unlocking synergy: EFRAG symposium explores connectivity between financial and sustainability reporting

October 6, 2023

The EFRAG Symposium at the 2023 EAA Annual Congress was a deep dive into the pressing issue of connecting financial and sustainability reporting. With a roster of insightful speakers, the aim was to discover not just how these two realms could coexist but how they could collaborate to amplify reporting outcomes.

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Proposed improvements to 2024 GAAP taxonomy: comments open

October 6, 2023

The Financial Accounting Standards Board (FASB) has released proposed technical and conforming improvements for the 2024 GAAP Taxonomy.

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PRA’s evaluation confirms success of written auditor reporting policy

October 6, 2023

The UK’s Prudential Regulation Authority (PRA) has assessed the effectiveness of its Written Auditor Reporting policy. This policy, designed to enhance dialogue and report quality between auditors and supervisors, has proven highly successful.

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AI in Central Banking: Exploring Opportunities and Challenges

October 6, 2023

The European Central Bank (ECB) is starting to use artificial intelligence (AI) to enhance its operations. As AI continues to evolve, it offers interesting potential for a range of central banking tasks, including data analysis, risk management, banking supervision, and monetary policy analysis.

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Report Packages specification finalised

September 30, 2023

We are delighted to announce that this week the XBRL International Board of Directors approved the Report Packages specification to Recommendation status as the newest part of the XBRL standard. The now-final specification provides a single container for XBRL reports to reside in.

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TNFD unveils recommendations for nature-related financial disclosures

September 30, 2023

The Taskforce on Nature-related Financial Disclosures (TNFD) last week released its recommendations for managing and disclosing nature-related risks.

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Enhancing quality in Inline XBRL tagging

September 30, 2023

In the realm of Inline XBRL, quality assurance is paramount. Xmetric Ltd recently released a report highlighting their lessons learnt in diagnosing and resolving quality matters in FRC-tagged accounts across the UK and Ireland. The report is designed to inspire and guide software vendors and preparers to soar to new heights in tagging quality.

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IASB initiates project to enhance reporting of climate-related risk in financial statements

September 30, 2023

Following last week’s publication of EFRAG’s research conclusions on the status of climate-related risk reporting in financial statements, the International Accounting Standards Board (IASB) has announced next steps to follow up on recommendations.

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New draft guidance: addressing entity specific disclosures in XBRL reports

September 30, 2023

XBRL International’s Entity Specific Disclosure Task Force (ESDTF) has released its first publication, titled “How to address Entity Specific Disclosures in XBRL reports.” The primary goal of this guidance is to identify and recommend mechanisms that taxonomy architects and authors can employ to incorporate Entity Specific Disclosures (ESDs) within the base taxonomy.

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IASB Chair reflects on 50 years of IFRS at World Standard-setters Conference 2023

September 30, 2023

Andreas Barckow, Chair of the International Accounting Standards Board (IASB), reflected on the importance of financial reporting standards at the recent World Standard-setters Conference in London. Barckow reaffirmed the vital role played by national standard-setters in the global standard-setting process and expressed his anticipation of continued collaboration in the coming years.

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