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IASBIFRSSupplier

IASB Implements New Disclosure Requirements to Enhance Transparency of Supplier Finance

By Editor on June 2, 2023

Hot on the heels of recent regulatory scandal surrounding supply chain finance deals, also known as reverse factoring, the International Accounting Standards Board (IASB) has issued new disclosure requirements designed to assuage investor concerns regarding the lack of visibility into company supplier finance arrangements.

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CybersecuritySECUS

SEC proposed rule on Cybersecurity Risk Management receives support and recommendations from XBRL US

By Editor on June 2, 2023

 In response to the US Securities and Exchange Commission’s (SEC) proposed Cybersecurity Risk Management Rule request for comments, XBRL US have submitted a comment response letter. The rule aims to enhance cybersecurity risk reporting for various entities such as broker-dealers, clearing agencies, security-based swap participants.

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ESAPEU

Deal reached on ESAP to provide investor access to EU data

By Editor on May 28, 2023

This week the European Parliament and Council negotiators agreed on the timeline and processes for establishing the European single access point (ESAP), a common data platform that will merge digital data crucial for capital markets, financial services, and sustainable finance from across Europe.

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CSRDESGEUXBRL EU

Think Digital for Sustainability Disclosures

By Editor on May 28, 2023

XBRL EU urges digital for sustainability disclosures at a meeting in Rome this week. At the very successful XBRL-EU conference in Rome earlier this week, the attendees heard a range of details about the upcoming implementation of the European Sustainability Reporting Standards (or ESRSs) via the CSRD, or Corporate Sustainability Reporting Directive.

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ARGAAuditFRCUK

FRC publishes minimum standard for audit committees

By Editor on May 28, 2023

The Financial Reporting Council (FRC) has released the Audit Committees and the External Audit: Minimum Standard, designed to enhance audit quality and reinforce public trust in the financial reporting process. The standard provides clear expectations and guidelines for audit committees within the FTSE350, supporting the delivery of high-quality audits.

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ASICAustraliaESG

ASIC highlights need for transparency in sustainable finance

By Editor on May 28, 2023

In a speech at the RI Australia 2023 conference, ASIC Deputy Chair Karen Chester emphasised the regulator’s focus on sustainable finance and the need to tackle greenwashing with sustainability disclosures.

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CSRDESGEUSustainability

94% of companies committed to complying with CSRD

By Editor on May 28, 2023

ESG reporting is rapidly becoming the “new gold standard” of disclosure practices, with 94% of European and UK public companies intending to comply with the Corporate Sustainable Reporting Directive (CSRD), according to a survey of over 500 finance leaders by Workiva.

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ResilienceSECUS

SEC aims to enhance resilience of covered clearing agencies

By Editor on May 28, 2023

The US Securities and Exchange Commission (SEC) recently unveiled a series of proposed rule changes designed to fortify the resilience and recovery capabilities of covered clearing agencies. The measures aim to enhance the integrity of clearing services during times of heightened stress.

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CertificationSoftwareXII News

New software certified

By Editor on May 28, 2023

We’re delighted to announce that Invoke’s validating processor xBRL Suite – xBRL Validator and review and report creation software Invoke ESEF have passed the strict tests needed to be certified as XBRL Certified Software. It’s particularly pleasing to see another brand new validating processor, capable of dealing with xBRL-CSV and xBRL-JSON as well as more traditional xBRL-XML formatted reports available […]

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BankingBoEDataPRAUK

Standardised data takes the spotlight in PRA speech

By Editor on May 28, 2023

Rebecca Jackson, director of the UK’s Prudential Regulation Authority (PRA), recently delivered a speech at the Association Of Foreign Banks Mansion House Lunch, shedding light on the PRA’s approach to data regulation and supervision in the financial industry.

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