Investors are increasingly demanding more extensive and clearer reporting on environmental, social and governance (ESG) factors, and while the E of ESG commands the majority of attention, governance should not be overlooked. The UK’s recent Financial Reporting Council report on work-force related corporate reporting identifies areas where companies need to improve in order to reflect […]
The US aren’t the only ones turning their attention to data this year: earlier this month the UK’s Financial Conduct Authority (FCA) and the Bank of England announced proposals for data reforms across the UK financial sector. With technology changing the nature of the markets they regulate, both authorities have issued plans designed to develop […]
As part of a number of regulatory requirements established in recent months, this week the Reserve Bank of India (RBI) mandated regular XBRL reporting for urban co-operative banks (UCBs). UCBs are co-operatively owned, usually formed around communities or small groups with a common interest and used to finance small businesses within that community. They have […]
A recent report from Accountancy Europe sets out an articulate and ambitious plan to cut through the noise of non-financial reporting initiatives with a global, interconnected reporting standard.
XBRL International has released requirements designed to improve the process of combining multiple XBRL or iXBRL reports into a package without losing the references between them.
This week we are pleased to feature a guest post from Mohini Singh, Director, Financial Reporting Policy at CFA Institute. In her post she highlights the “missing piece” in the digitisation of reporting in the EU: the need for a single way to discover reports. As things stand, while digital reporting in Inline XBRL is […]
France has joined the UK in the push to make environmental reporting standards compulsory in order to tackle greenwashing and enable sustainable investment. France’s finance minister, Bruno Le Maire, told the Financial Times recently that France is encouraging the EU to introduce compulsory environmental reporting standards for European companies and to apply a common definition of […]
Recent IFRS speeches indicate a new willingness to better integrate IFRS reporting with additional non-financial reporting metrics that have developed out of changing investor needs. Technology means we have seen a dramatic shift in the importance of intangible assets, reducing the relevance of the traditional balance sheet. Demand from investors for sustainability reporting is on […]
On a Eurofiling call this week ESMA clarified a question that we’ve certainly heard from around Europe and the world. Basically — what happens to PDF versions of an annual report? ESMA emphasises that EU issuers are only compliant with the ESEF regulation if the publication of an Annual Financial Report to the public (eg. on […]
ESMA Chair Steven Maijoor’s speech underlined the importance of IFRS going forward and described the expected impact of structured (ESEF) data in Inline XBRL for users and regulators alike. He also urged policy makers to focus on standardisation of ESG disclosures.