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Items tagged with "Reporting"

Can Standardisation Help Local Governments Save Money?

In 2018 Florida passed a bill that could require local governments to submit financial data in machine-readable format. California has recently followed suit, and the second version of the Demonstration Comprehensive Annual Financial Report (CAFR) Taxonomy, currently out for review, will also aid the process. But what benefits would standardisation bring? Beyond abstract accolades of increased transparency, […]

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Collaboration, Iteration: Keys to the Shift From Paper to Data

At a conference organised by the European Commission (EC) and Deloitte this week, experts discussed the next steps for digital reporting for EU companies.

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Can Integrated Reporting Repair Trust in Business?

An article by Mark Graham, Associate Professor at the UCT Graduate School of Business, in Business Report this month highlights Integrated reporting (IR) as a powerful tool for building trust and confidence in companies – with a corresponding increase in company value. Integrated Reporting is supposed to fill in the gaps in current reporting, providing […]

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Simplify ESG Reporting with Better Alignment

Key co-ordinating body,  the Corporate Reporting Dialogue, has reported that alignment between different ESG frameworks with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations is better than expected. In order to offer more clarity on the relationships between different ESG reporting frameworks, the Better Alignment Project has brought a varied group of standard setters together to […]

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Financial Transparency Act Introduced in Congress

The Financial Transparency Act (FTA) was reintroduced into US Congress this week, potentially paving the way for a significant advance in data standards that would benefit the business community and regulators alike. The bipartisan bill, which has long been supported by the Data Coalition, and our colleagues at XBRL US, aims to introduce a number of […]

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XBRL US Release CAFR Taxonomy for Municipal Reporting

Last week we reported that California have voted to test machine-readable reporting, passing Bill 598, which calls for a commission to build a test taxonomy and make recommendations on moving local reporting to a machine-readable format. The task of developing a test taxonomy will be greatly simplified by the work of the XBRL US State and […]

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UK Update Regulatory Report Guidelines

The UK’s Prudential Regulation Authority (PRA) have issued a supervisory statement updating their guidelines for completing regulatory reports. The guidelines have been updated over the summer following the adoption of the European Banking Authority Taxonomy 2.9, and again in September following the revision of the branch return for international banks. Changes to the branch return […]

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California Vote for State-level XBRL

In a significant step forward for municipal reporting standards this week the California Assembly passed a bill that will set the state on the path to machine-readable reporting.

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India Strengthens Banking Regulation

The Reserve Bank of India (RBI) have released their annual report, detailing several supervisory measures that are underway to strengthen India’s banking system. The aim is to improve India’s credit risk and financial performance, and to increase the flow of credit to productive sectors of the economy. Included in these measures are draft guidelines on […]

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Is Short-termism a Problem in the US?

July 18 saw the SEC Staff Roundtable discussing short-termism in public companies and whether the periodic reporting system needs altering to encourage long-term thinking. SEC Chairman Jay Clayton made some salient remarks in his closing comments, highlighting how investment decisions both long and short term rely substantially on timely and high-quality disclosures. To move forward, […]

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