The International Financial Reporting Standards (IFRS) Foundation has issued its annual XBRL taxonomy updates for financial reporting, publishing the IFRS Accounting Taxonomy 2023 this week.
Financial regulation has been in the spotlight recently as uncertainty, driven by Silicon Valley Bank (SVB) in the US and Credit Suisse in the EU (see above), continues.
This week the Securities and Exchange Commission (SEC) held an open meeting to discuss amendments that introduce electronic filing and structured data for the remaining forms required under the Exchange Act that are still submitted in paper format.
Following the publication of the Calculations 1.1 specification as an XBRL Recommendation last month, the XBRL International Best Practices Board this week approved new guidance on optimal processes for adopting Calculations 1.1.
This week the US Securities and Exchange Commission (SEC) has accepted the 2023 GAAP Financial Reporting Taxonomy (GRT) and the 2023 SEC Reporting Taxonomy (SRT) (collectively referred to as the “GAAP Taxonomy”).
This week the US Securities and Exchange Commission (SEC) upgraded the EDGAR System to Release 23.1, which means that it now supports the various 2023 taxonomies.
The International Accounting Standards Board (IASB) has this week completed the Targeted Standards-level review of Disclosure Project, designed to discover an improved approach to developing new disclosure standards.
A recent survey from Workiva and PwC found that two out of five US business leaders believe their company is not prepared for the climate risk disclosure rule set to be published by the US Securities and Exchange Commission (SEC) in May.
The UK’s Levelling Up, Housing and Communities Committee (LUHCC) is launching an inquiry into financial reporting and audit in local authorities following calls for more understandable local authority financial statements.
This week the European Supervisory Authorities (ESAs), together with the European Central Bank (ECB) published a statement encouraging disclosure standards for climate-related data on securitised assets.
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