South Korea’s financial regulator, the Financial Supervisory Service (FSS), has announced that it is considering phasing in mandatory XBRL disclosure and expanding the scope of XBRL to also tagging financial statement annotations and notes.
The Securities and Exchange Board of India (SEBI) has been consulting on a regulatory framework that would require assurance for environmental, social, and governance (ESG) disclosures.
Last month the IFRS Foundation hosted the IFRS Sustainability Symposium in Montreal, outlining what’s next for sustainability reporting and the International Sustainability Standards Board (ISSB).
The US Financial Accounting Standards Board (FASB) and Governmental Accounting Standards Board (GASB) are looking into the ways in which investors are using artificial intelligence (AI) to consume and analyse financial data.
The nominee likely to be leading the US Internal Revenue Service (IRS) has promised a package of tax-recovery measures if elected, including a plan for digitalisation and expanding the machine-readability of tax returns.
The European Financial Reporting Advisory Group (EFRAG) has published over 20 educational videos diving into the first set of European Single Reporting Standards (ESRS). The ESRS are the EU’s sustainability reporting standards, designed to promote consistency and comparability in sustainability reporting.
Comparability and interoperability between different reporting standards is an ever-important topic within business reporting. One source for understanding alignment is the IPSAS-IFRS Alignment Dashboard, which was recently updated, providing a useful resource for anyone who wants to understand where the two standards align and depart.
A new report from the International Federation of Accountants (IFAC) and the Association of International Certified Professional Accountants (AICPA & CIMA) finds that the largest global companies show momentum on sustainability reporting. However, barriers remain surrounding the provision of comparable, useful, high-quality information to investors.
The XBRL Standards Board has approved the publication of a Proposed Edited Recommendation of the Open Information Model suite of specifications, which includes the new xBRL-CSV and xBRL-JSON formats.
The Public Finance Network, representing US state and local governments, government entities, and issuers of municipal securities, has requested that its members be involved and provide input in the implementation of the Financial Data Transparency Act (FDTA).
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