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Items tagged with "disclosures"

SEC Filer Definition change adds Audit Checkbox to Cover Sheets

The US Securities and Exchange Commission (SEC) has adopted long-proposed changes to filer definitions, designed to ease the reporting burden and compliance costs for small filers. The amendments mean smaller reporting companies – those with less than $100 million in revenue – will no longer need to obtain a separate attestation of their ability to maintain […]

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Further Filings and Projects Delayed

Following announcements from India’s SEBI and the SEC in the US, further authorities are delaying and relaxing reporting requirements and planned updates in the wake of the COVID-19 crisis. Italy has relaxed rules surrounding annual statement drafting procedures and extended the deadline for financial statements to December. Columbia’s Supersociedades has also extended the deadline for companies to […]

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XBRL US comments on SEC Resource Extraction Payments proposal

XBRL US has submitted a comment letter expressing support for the SEC proposal Disclosure of Payments by Resource Extraction Issuers, File Number S7-29-14. The proposal would require machine-readable XBRL for the disclosure of payments by resource extraction firms. It is designed to provide more information to global commodity markets, and to hold governments accountable for the […]

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SEC Clarifies FAST Act Cover Page Tagging

Earlier this year the SEC introduced the FAST Act, which aimed to modernise and simplify disclosures with a number of measures including mandating Inline XBRL tagging for the cover sheets of key documents. This small but useful change introduces comparable, machine-readable index information, improving market access to data, even for documents that are not otherwise […]

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EIOPA Consult on Disclosure Requirements

The European Insurance and Occupational Pension Authority (EIOPA) has launched a consultation on the appropriateness and proportionality of public disclosure, in preparation for its 2020 Solvency II Review. EIOPA is assessing the appropriateness and proportionality of supervisory reporting and public disclosure content, volume, frequency and deadlines, and checking if existing exemption requirements are sufficient. While […]

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California Moves Towards State Level XBRL

California could be on their way to join Florida in leading America’s state and local government towards transparent, easily accessed financial statements. The Open Financial Statement’s Act, SB 598, which has passed in the Senate and is soon to go to Senate Assembly, is the latest in a long trail of small steps towards local […]

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UK Considering Mandatory Climate-Related Financial Disclosure

Under a proposed new Green Finance Strategy announced this week the UK Government expects listed companies and large asset owners to disclose the impact of climate change on their businesses from 2022. The Treasury is considering the most effective way of ensuring that this disclosure happens, including, if necessary, requiring mandatory disclosure. The Green Finance […]

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Standardised Reporting Relevant for Business

Dr Nicolas Peter, Chief Financial Officer of BMW AG, gave a keynote address outlining BMW’s own experiences with standardised reporting at a stakeholder event in Munich on 26 June 2019, hosted by the IFRS Foundation and the Deutsche Rechnungslegungs Standards Committee (DRSC). Dr Peter demonstrated how the development of global, uniform accounting, underpinned by the […]

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TCFD Status Report Shows Steady Progress

The Task Force on Climate-related Financial Disclosures (TCFD) have published their second Status Report, analysing the extent to which companies have aligned their disclosures with the TCFD’s core recommendations. The Status Report has found an encouraging steady increase in the support for TCFD recommendations – with more than 800 organizations expressing support – and has […]

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US Updates EDGAR

On 10 June the US Securities and Exchange Commission (SEC) announced that the EDGAR system has been updated to version 19.2. Amongst other changes, the latest update to EDGAR ensures it can support the 2019 IFRS Taxonomy, and EDGAR version 19.2 will no longer support the 2017 US GAAP, 2016 Currencies, 2014 DEI and 2017 […]

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