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Items tagged with "disclosures"

CII Defends Quarterly Reporting

The highly influential Council for Institutional Investment (CII) have joined XBRL US and the CFA Institute in voicing their support for the SEC’s current quarterly reporting system. In December the SEC posted a request for input on the effects of mandated quarterly reporting and earnings releases. They were looking for comments on the nature, content and timing of reporting, […]

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UK Considers XBRL for Branch Returns

The UK’s Prudential Regulation Authority (PRA) has published a consultation paper (Consultation Paper 8/19) revising the supervision of international banks – which includes a proposal to replace the current Excel reporting format for Branch Return Forms with XBRL. The proposal would affect all PRA-supervised branches of deposit takers and investment firms which are not headquartered […]

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GRI Argue ESG Info is Crucial for Investors

The Global Reporting Initiative (GRI) has now published an open letter arguing that Environmental, Social and Governance (ESG) information is now crucial for investors, in response to the speech (above) by IASB Board Chair. In that speech Hans Hoogervorst, pointed out that “greenwashing is rampant” in sustainability reporting. The GRI suggest that this argument misrepresents […]

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FAST Act seeks to Simplify Disclosure

More and more markets around the world are shifting to Inline XBRL. Interesting news out of the SEC at the end of March – the US regulator will introduce mandated Inline XBRL tagging for the cover sheets of a number of key documents. Already shifting financial statement disclosures for SEC registrant public companies (both foreign […]

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SEC Proposes XBRL for Specialised Capital

The SEC has proposed reforms to the rules governing Business Development Companies (BDC) and Registered Closed-End Funds that would require these funds to report information in structured data.

The amendment is in support of the SEC’s implementation of the Small Business Credit Availability Act and the Economic Growth, Regulatory Relief, and Consumer Protection Act. BDC’s primarily invest in small and developing companies, so ensuring these funds have an efficient approach to raising capital and good investment communication should help support small business.

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IASB to Focus on Communicating Financials

In a speech setting out priorities for his second term, IASB Chair Hans Hoogervorst outlined plans to prioritise improvements to the communications of financial statements. Of particular interest to the XBRL community will be the continuation of the Disclosure Initiative, along with a focus on digital reporting and non-financial reporting. You can read Hoogervorst’s speech here.

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Performance Reporting and non-GAAP Measures

Our take on “alternative performance measures” (also known as non-GAAP)? Use them judiciously and not to mislead. XBRL can help.

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A Disclosure Revolution

Our thoughts on remarks by SEC Commissionor Kara Stein on efforts to “breathe new life into the critical matchmaking process between companies and investors”.

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XBRL Data Helps Close Off Balance Sheet Accounting Hole

FASB used SEC XBRL data from 2014 to identify over USD $1 trillion in undiscounted lease obligations that were being reported in footnotes. Read about the resulting guidance.

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Climate-related Disclosures to get a Push

The Financial Stability Board has launched an an initiative to create climate-related financial risk disclosures for use by companies in providing information to lenders, insurers, investors, regulators and other stakeholders.

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