These are extraordinary and uncertain times, requiring, even more so than usual, substantial and useful data to help navigate the murky waters of the post-Covid-19 economy. As such, the European Banking Authority (EBA) has launched an additional EU wide transparency exercise in order to provide a snapshot of Europe’s banks pre-pandemic. Similar to EBA’s regular […]
Every year each publicly traded company in the US must submit an iXBRL tagged Annual Report (known as a “Form 10-K”) to the Securities and Exchange Commission, giving a comprehensive account of financial performance, condition and risk. What if the US government did the same? There is no requirement for federal, state and local governments […]
XBRL is now the standard for financial reporting, providing machine-readable data with vastly improved accuracy and quality to regulators worldwide. With significant amounts of structured data increasingly available, how can AI be used to turn that information into insight? While some AI programmes are designed to be able to deal with data that is unstructured, […]
Marc Joffe, from the Reason Foundation argues that quality, usable data is essential to tackling the current crisis in a post that he made this week. Fundamentally, he (correctly in our view) argues that “To attack the problem, we need to have the best possible data.” Quickly creating consistent data definitions and then ensuring that health […]
A report this week used structured data to give machine-readable insight into the Covid-19 pandemic.
The US Securities and Exchange Commission (SEC) has proposed updates to National Market System (NMS) regulation designed to improve the transparency, efficiency and fairness of market data.
As meetings move online, businesses scramble to offer digital services and the world gets used to working remotely, Australia and Singapore have concluded a sign-of-the-times virtual meeting by signing the Australia-Singapore Digital Economy Agreement (DEA). The DEA is designed to reduce barriers to and increase the benefits of digital trade and the digital economy. It […]
The European Banking Authority (EBA) have published a guide highlighting the importance of assessing data management when evaluating an entity for resolution. In a year when Europe’s Single Resolution Board (SRB) has shifted to full XBRL reporting, the importance of high quality data in this area is increasingly evident. The SRB collects huge amounts of data […]
Following the successful introduction of the European e-invoicing standard, Estonia is looking to go granular and make some business data standardised and machine-readable at the transaction level. Part of a wider scheme called the Internet of Business (IoB), the project will use XBRL to standardise financial transactional data. The standard will be adapted to fit […]
Turkey’s electronic Public Disclosure Platform (KAP) demonstrates the potential of the XBRL format for enabling enhanced business transparency and data usability. All documents requiring public disclosure in Turkey – that is, financial statements and material events – must be certified with a secure electronic signature and published on KAP. This offers everyone – including investors, […]