IASB Chairman outlines plans for the IFRS “Better Communications” initiative in Brazil. Making digital consumption of financial information easier via the IFRS XBRL taxonomy is one part of this effort.
The SEC’s EDGAR system now supports the 2017 IFRS Taxonomy. This impacts Foreign Private Issuers, which is the US term for companies based outside of the United States that have raised funds in the US public markets. All FPIs that prepare their accounts in accordance with IFRS are obliged to file XBRL or Inline XBRL […]
A seminar will be held on 25th October 2017 in Toronto, Canada to discuss the evolution of technologies such as XBRL, and gain an understanding of specific U.S. Securities and Exchange Commission (SEC) XBRL requirements and the current and potential implications on corporate reporting in Canada and internationally. As part of a broader trend towards […]
Sixty percent of financial statement data is already being consumed electronically, and this figure will continue to grow, according to International Accounting Standards Board Chairman, Hans Hoogervorst in a speech in which he outlined the importance of digital reporting amongst several other priorities.
An important part of high quality structured data is the application of business rules that uncover simple mistakes and business logic errors. XBRL International urges all regulators to use machine executable business rules in order to significantly enhance data quality. To help environments that report based on the IFRS accounting standards, the IFRS Taxonomy Formula Linkbase […]
The SEC has updated its FAQs on preparing Inline XBRL documents and issued a new FAQ for Foreign Private Issuers on the preparation of XBRL or Inline XBRL documents using the IFRS taxonomy.
The IFRS taxonomy team has published a set of labels in Ukrainian for the IFRS 2017 taxonomy. With several new XBRL projects under development in that country in the coming months, this is excellent news. To further assist, the updated Ukrainian labels include an IFRS illustrated taxonomy. Need the new labels? The IFRS website has […]
This proposed update incorporates the IFRS Taxonomy elements for applying IFRS 17 Insurance Contracts. The IFRS Foundation is seeking comment on this Taxonomy update with the comment period remaining open until 18 September 2017. Further information and supporting materials can be found here.
The IFRS Foundation this week published a new webinar on its Disclosure Initiative. This is a broad-ranging project examining the purpose and effectiveness of disclosure requirements as well as the problems that currently exist in financial disclosures. The webcast covers: the background and objective of the Principles of Disclosure project; disclosure issues identified by the Board; […]
The International Accounting Standards Board is currently seeking applications for membership of the IFRS Taxonomy Consultative Group to fill two open positions. The IFRS Taxonomy Consultative Group contributes to the development of the IFRS Taxonomy by providing technical advice to the Board on taxonomy related issues. Candidates are expected to have taxonomy-related expertise or skills. […]