The Financial Accounting Standards Board (FASB) has laid out a set of proposed improvements to the US GAAP Taxonomy to take account of changes arising from amendments to the accounting treatment for purchased financial assets exhibiting credit losses.
Aiming to improve the process for filing fee disclosure and payment methods, last year the Securities and Exchange Commission (SEC) adopted the Filing Fee Disclosure and Payment Methods Modernization amendments.
The European Securities and Markets Authority (ESMA) has unveiled its new Data Strategy for 2023-2028. This strategy aims to optimise data reporting processes, promote collaboration, and ensure the effective use of data in financial markets.
The US Federal Housing Finance Agency (FHFA) has been encouraged to embrace the use of XBRL and the LEI (Legal Entity Identifier) to facilitate the transition mandated by the FDTA (Financial Data Transparency Act) legislation.
The UK’s Financial Reporting Council (FRC) has released a research report exploring the perspectives and approaches of Audit Committee Chairs (ACCs) towards Environmental, Social, and Corporate Governance (ESG) activities and reporting.
Australia’s financial regulator, the Australian Prudential Regulation Authority (APRA), has been mandated by the government to incorporate climate change-related risks into its role.
The Financial Accounting Standards Board (FASB) recently released a new chapter in its Conceptual Framework, dealing with the definition of a reporting entity.
The Capital Market Authority of the Sultanate of Oman (CMA) has launched an analytical portal (Bayanat), an interactive platform for exchange of business information drawing on its XBRL data collections. The portal contains significant historical data on the financial results of most companies.
The International Public Sector Accounting Standards Board (IPSASB) has embarked on a project to develop sustainability reporting standards for the public sector.
The World Economic Forum (WEF) and the International Sustainability Standards Board (ISSB) have joined forces to establish the Forum ISSB Preparers Group. Comprised of experienced sustainability reporting professionals, the group plans to provide practical examples and best practices for adopting ISSB standards.
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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.
