PCAOB Board Member J. Robert Brown’s speech at Data Amplified has now been published on the Audit Regulator’s website. Mr Brown urges regulators and the audit profession alike to consider the impact of potential irrelevance – “Investors and other consumers of the financial statements are increasingly relying on information not subject to the audit. The effect is […]
On August 8 the Securities and Exchange Commission (SEC) published a proposed amendment, the Modernization of Regulation S-K, which aims to revise and modernise Regulation S-K, which governs a host of non-financial disclosures by US registrants.
How is structured data used outside of the reporting realm? A blog post from Ebay this week demonstrates how structured data comes in useful across various fields – and can even be put to use sorting out the contents of your garage. Ebay has 1.3 billion listings worldwide – an awful lot of very varied […]
Under a proposed new Green Finance Strategy announced this week the UK Government expects listed companies and large asset owners to disclose the impact of climate change on their businesses from 2022. The Treasury is considering the most effective way of ensuring that this disclosure happens, including, if necessary, requiring mandatory disclosure. The Green Finance […]
For audit and accounting to build truly useful advisory services, they need to focus on more than just financial data, suggests a blogpost on the Accountancy Europe site. Wesley Shulte, from Finext, argues that moving beyond financial data will allow auditors and accountants to create valuable assessments for companies – for example, by auditing human […]
The Alliance for Corporate Transparency project has assessed over 100 European companies to analyse how effectively they are disclosing the environmental, social and governance (ESG) impact information required by the EU Non-financial Reporting (NFR) Directive.
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.
India has both made Corporate Social Responsibility activities and processes mandatory and required reporting in XBRL.
In its response to the SEC regarding the “Concept Release on Business and Financial Disclosure Required by Regulation S-K”, the Sustainability Accounting Standards Board (SASB) pushed the SEC to broaden its use of XBRL. In response to the question as to how the quality of structured disclosures can be enhanced, SASB called for the voluntary XBRL […]
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.