With the Financial Data Transparency Act (FDTA), currently pending before the US Senate, Barnet Sherman in Forbes this week argued that introducing digital, machine-readable financial reporting for municipality level financial data is key to transforming the municipal bond market.
The European Single Electronic Format (ESEF) project, which requires EU listed companies to publish annual reports in Inline XBRL, has seen highly designed, “glossy” reports being prepared in the structured data format for the first time.
Over the past two years the Bank of England has been transforming the way it gathers regulatory and statistical reporting data, transitioning statistical data collection to XBRL. On 1 December this transition was completed with the final sunsetting of the prior Online Statistical Collection Application (OSCA) system.
The International Financial Reporting Standards Foundation (IFRS) 2022 Taxonomy formula linkbase is now available for download. The updated linkbase reflects changes to the IFRS Accounting Taxonomy, including updates to axis aggregation validations, percentage warnings, and technical validations.
The US Securities and Exchange Commission (SEC) has published the latest version of its Interactive Data Test Suite.
As part of the Financial Reporting Council’s (FRC) ongoing work to strengthen oversight of audit, this week it published a high-level policy paper outlining a number of recommendations to increase competition in the UK audit market.
Following recent news that the Corporate Sustainability Reporting Directive (CSRD) was voted into EU law by the European Parliament, this week the Council of the European Union has given the directive the final green light.
Securities regulators and policy makers right around the world are pushing towards new mandatory ESG (or sustainability disclosures) for companies in markets large and small. The majority firmly intend that these new broader kinds of corporate reports will be digital.
The Indian National Stock Exchange (NSE) has proposed introducing XBRL for all key corporate announcements.
A recent interview with the Dutch Bank ING’s real estate team outlined how standardisation and data harmonisation is working to reduce risk and increase efficiencies in the real estate sector.
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