At last week’s Warsaw meeting of the European XBRL community, Jon Rowden from PwC gave a talk on assurance and ESEF. To recap, once mandatory inline XBRL filings are being prepared by public companies in the EU, there is a need for independent review to help ensure that users (especially investors) can rely on them. Rowden reassured […]
South Africa is just a few weeks away from starting to cut over to Inline XBRL filing for its private and public companies. In a new video explaining the background and vision for the project, as well as the details of the upcoming changes, the CIPC summarises what’s happening in that country. Well worth the 5 […]
Nice write up this week from the FRC’s Thomas Toomse-Smith, in the Governance Institute’s online magazine, with a set of prescriptions for all those starting to get ready for the ESMA mandate for Inline XBRL filing. The FRC prescribes a strict regime of public-private collaboration. In short: regulators and standards setters need to work together […]
The massive EDGAR database serves up 1.5 billion copies of documents filed by public companies with the SEC each year, and these days 85% of those downloads are by ‘bots, not humans. That’s an important signal: regulatory data needs to be human and machine readable. Read more…
Better ratings and better bankruptcy predictions are possible with ratio analysis of the financial statements prepared by local government. That requires high quality digital disclosures.
The Ukrainian National Securities and Stock Market Commission announced this week that it has signed a MOU, together with its international partners from USAID and the EU’s FINSTAR program, to procure and implement a new Inline XBRL based Financial Reporting System, covering public companies, the financial sector as well as a range of large enterprises. As […]
Florida is in the last stages of finalising legislation that will require the collaborative design and implementation of XBRL based reporting from municipalities. Comprehensive Annual Financial Reports (CAFRs) will go digital.
The CFA Institute’s Mohini Singh suggests that we are only at the beginning of an important journey. The next step should include Inline XBRL Earnings Releases.
This is the fourth in a series of guest posts from Mohini Singh, ACA, Director, Financial Reporting Standards, CFA Institute. With more than 150 million data points in the Securities & Exchange Commission’s structured database, XBRL has the potential to increase the volume, speed, and access to information for policymakers, investors and regulators. Further, there’s […]
The UK’s FRC Lab says that the changing demands of users, supported by upcoming regulatory changes mean that boards can no longer ignore digitisation of listed company reporting. In a new report it urges regulators, investors, vendors and issuers to work together to maximise the benefit of Inline XBRL reports.