Earlier this month the European Banking Authority (EBA) launched its annual EU-wide transparency exercise, with the aim of enhancing risk monitoring, vulnerability assessment, and the promotion of market discipline.
Jean-Paul Servais, Chair of the International Organization of Securities Commissions (IOSCO), recently addressed the EUROFI 2023 Financial Forum, highlighting IOSCO’s plans to support the transition towards sustainability-related digital data reporting via a capacity building program.
The US Securities and Exchange Commission (SEC) has proposed rule and form amendments aimed at enhancing access to and management of accounts on the SEC’s EDGAR system. These changes are part of the broader initiative known as ‘EDGAR Next,’ which aims to improve filer access and account management.
Developers working on software for validating Interactive Data before EDGAR submissions now have a powerful tool at their disposal: the Interactive Data Public Test Suite (Version 67-230918).
Deep learning models, often the bedrock of machine learning and artificial intelligence, are playing an increasingly large role in financial analysis. These models, while powerful, lack transparency – often known as ‘black boxes’ due to the opacity of their algorithms.
The US Financial Accounting Standards Board (FASB) staff is seeking public input on proposed improvements to the 2024 SEC Reporting Taxonomy (SRT). These enhancements cover new elements, like disclosures about share repurchase programs and insurance, and updates to references across various topics.
The European Single Electronic Format (ESEF) made its debut in 2021, marking a significant milestone in the digital transformation of financial disclosures for European companies. ESEF’s introduction has opened new avenues for accessing issuer data, fundamentally altering the landscape for financial professionals.
Numerous countries use Inline XBRL as the gold standard for IFRS-based financial reporting. In particular, in Europe we now have two years of experience of the European Single Electronic Format (ESEF) – and some interesting insights from that are discussed above.
EFRAG recently published insights into the International Accounting Standards Board’s (IASB) project on climate-related risks in the financial statements. The briefing covers key findings from EFRAG’s outreach and reviews of European companies’ reporting of climate-related risks.
The International Accounting Standards Board (IASB) has published proposed amendments to IFRS Accounting Standards. These yearly tweaks aim to clarify wording, correct minor unintended issues, and improve consistency within the IFRS standards.
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