Last week The International Sustainability Standards Board (ISSB) voted on the technical substance of its sustainability standards. With the content of the standards fully agreed, the ISSB can now move onto the final stage in preparation: drafting. A January 2024 implementation date for Sustainability Disclosure Standards S1 and S2 was also agreed during the meeting.
Israel takes another step towards full XBRL-based digital reporting this week, as the Israel Securities Authority (ISA) dropped requirements to publish financial reports in PDF format.
As part of the Securities and Exchange Board of India’s (SEBI) ongoing efforts to introduce structured data in stock exchanges and for business information, last week the regulator published a summary document for filing Initial Public Offer (IPO) information in XBRL.
The International Organization of Securities Commissions (IOSCO) published a statement welcoming the International Sustainability Standards Board (ISSB)’s progress into the final stage of developing its first sustainability disclosure standards (above).
This week the US Securities and Exchange Commission (SEC) finalised the new rule, Shortening the Securities Transaction Settlement Cycle, which will require Inline XBRL tagging for annual reports filed by central matching service providers (CMSP).
The US Financial Accounting Standards Board (FASB) staff recently published a new proposed GAAP Taxonomy Style Guide. The guide is designed to help GAAP Taxonomy users understand the presentation and disclosure requirements of the FASB Accounting Standards Codification (ASC), and to illustrate the role and format of references related to elements included in the GAAP Taxonomy.
This week XBRL International published new best practice guidance to help XBRL users select the most appropriate of the four formats to fit their needs. The guidance is aimed at data collectors, solution architects, and anyone looking to understand the differences between the XBRL formats.
An article on Route Fifty this week looks at the new mandate for state and local governments in the US to prepare standardised, searchable financial statements.
With Estonian reporting requirements expanding to include sustainability information in line with the EU’s Corporate Sustainability Reporting Directive (CSRD), this week an article weighs up the pros and cons for Estonian corporates.
The European Banking Authority (EBA) is seeking comments on proposed draft Implementing Technical Standards (ITS) on supervisory disclosures. The updated ITS reflects changes to the EU legal framework related to supervisory reporting and investment firms (Capital Requirements Regulation and Capital Requirements Directive).
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