This week saw FASB Chair Rich Jones sit down with XBRL International Chair Wes Bricker at a FASB Webinar on Digital Reporting. Diving into data quality, Inline XBRL assurance, and the impact of AI on both digital reporting and the accounting profession, this was a wide ranging discussion.
The UK Government recently published its new Green Finance Strategy, outlining its goal to become the world’s first net-zero financial centre. The strategy includes updates on greenhouse gas reporting, net-zero transition plans and associated disclosures, and the expected implementation of the International Sustainability Standards Board (ISSB) standards.
While there has been a lot of focus on climate relate disclosures in recent years, the past year saw some significant import placed on biodiversity and nature in the wider sustainability realm.
The International Organization of Securities Commissions (IOSCO) has published its Work Program for 2023-2024, which includes a focus on sustainability disclosures.
A recent article on CPA Practice Advisor highlights how the digital transformation can play an important role in easing pressure on accounting firms struggling with a talent shortage.
A few weeks ago we reported that the Financial Supervisory Service (FSS) in Korea was looking to increase the scope of XBRL in financial disclosure to align with global standards and improve market transparency. On 30 March, these plans were finalised.
The UK’s Financial Reporting Council (FRC) has identified digital reporting and tagging, including of ESG (Environmental, Social, and Governance) information, as a high priority area for its technology and digital strategy.
The International Organization of Securities Commissions (IOSCO) has unveiled its latest report, outlining key considerations for establishing a reliable global assurance framework for sustainability-related corporate reporting.
While we wait for the much-anticipated initial two standards from the International Sustainability Standards Board (ISSB), set to be released in Q2 2023, the board is considering additional transitional relief to support companies who will be implementing Standards S1 and S2.
The UK’s Financial Conduct Authority (FCA) has received positive feedback on its proposals to improve sustainability information available to investors. The proposals aim to build trust in sustainable investment products and to help consumers make better-informed decisions when navigating the market.
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XBRL International is a global not for profit operating in the public interest. Our purpose is to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting.
