“Digital data is a key component of a well-functioning capital market,” say the UK’s Financial Reporting Council (FRC) and Financial Conduct Authority (FCA).
In case you missed it and of particular interest to vendors operating in the UK, in October the Financial Reporting Council (FRC) published its XBRL Tagging Guide for the UKSEF Taxonomy Version 1.0.
What are you doing on 22–24 November? If you are interested in reporting in Europe, or Inline XBRL implementation, you may wish to add the 29th XBRL Europe Digital Week – focusing on the European Single Electronic Format (ESEF) – to your diary.
The European Securities and Markets Authority (ESMA) has released its annual Public Statement on European Common Enforcement Priorities. This sets out priority issues that ESMA, together with national enforcers, will pay particular attention to in assessing listed companies’ annual reports for 2021.
Inline XBRL allows report issuers to combine the advantages of digital tagging with a high level of visual design, but these design elements have also caused performance issues in early ESEF reports. Some simple initial solutions are now available.
The European Single Electronic Format (ESEF) initiative has shown that Inline XBRL (or iXBRL) can very successfully replicate the high level of design that is typical of public company financial reports, including graphics, custom fonts and precise control of page layout. Unfortunately, many such early filings exhibit poor performance in the form of slow opening […]
Italy has published lists of preferred national extensions for banks and insurance companies, agreed upon by a wide range of stakeholders. These will help filers add local requirements to ESEF reports, while cutting down on idiosyncratic extensions that get in the way of comparison.
A highly useful new report from the UK Financial Reporting Council’s Financial Reporting Lab aims to support companies in the move towards high-quality digital reporting.
We were interested this week to read reflections on the changeover to the European Single Electronic Format (ESEF) and Inline XBRL for financial reporting in Europe, from members of the French Society of Financial Analysts (SFAF, La Société Française des Analystes Financiers) Evaluation Commission.
Not all issues flagged by XBRL validation processes indicate a problem in the report. We revisit calculation inconsistencies to see how they can be caused by simple rounding of figures.
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XBRL International is a global not for profit operating in the public interest. Our purpose is to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting.
