As of 1 July, the Companies and Intellectual Property Commission (CIPC) of South Africa has mandated the submission of financial information – including annual returns – from qualifying entities in XBRL format. The commission is expecting this transition to not only herald in a new lease of trust and accountability in financial reporting but will […]
Of the top ten countries rated by the World Bank as the most friendly to business, all leverage XBRL to some extent in their regulatory reporting.
This article highlights what lies ahead for banks in Mauritius as that country’s central bank moves forward with XBRL filing. The project entails the automation of the Bank’s entire data collection, management and processing system. Phase One, including the development of an XBRL taxonomy and a filing platform, is expected to be complete by October of […]
The Central Bank of the Russian Federation’s Board of Directors has approved a plan for non-bank financial institutions (NFIs) to report in XBRL
The Australian Securities & Investment Commission, as part of its efforts to “assist companies in dealing with the complexity of financial reporting and allow users to better navigate financial reports” now encourages companies to file financial reports in iXBRL, removing the need for separate lodgement of a PDF-format or paper financial report. Since July 2010, companies that […]
Structured data caught in the crossfire as US politicians angle to position themselves as the champion of small business against regulation.
The Ministry of Commerce and Industry (MCI) in Saudi Arabia has launched “Qawaem”, a new XBRL-based electronic reporting platform for the submission of consolidated financial statements by commercial entities in the Kingdom.
A recent briefing note shares some additional details on the proposed disclosure mandate for extractive firms in Canada. As reported last week it is anticipated that either a common reporting template will ultimately be developed for use in Canada, the European Union and the United State, or reporting for one of those Jurisdictions may also suffice in […]
Following the lead of the EU and the US, the Canadian government has introduced legislation to implement new mandatory reporting standards for extractive (e.g. oil and mining) companies for the disclosures of payments to foreign and domestic governments at all levels.To reduce regulatory burdens, the intention is for reporting requirements to be uniform with EU and […]
Following a two year testing period, an extension of the Italian GAAP Taxonomy to include Notes to financial statements has been completed. The initial version of the taxonomy will only cover information explicitly provided for in the Civil Code, with further integration with national accounting standards to come. The tagging of notes will come into effect […]