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.
This week the European Banking Authority (EBA) launched a public consultation on specific supervisory reporting requirements for market risk. These reporting requirements form the first part of the Fundamental Review of the Trading Book (FRTB) introduced by the revised Capital Requirements Regulation (CRR2) in the prudential framework of the EU. This consultation paper includes proposals […]
This week the Qatar Stock Exchange (QSE) have taken the next step on the road to joining the ever-increasing number of jurisdictions mandating the XBRL standard with the launch of the Q-Disclosure platform.
A new report from the UK’s Financial Reporting Council recommends that companies applying the new standard on lease accounting provide more information on its effects. IFRS 16 Leases, which became mandatory on 1 January 2019, requires companies to bring most leases on balance sheet in order to give a more faithful representation of assets and […]
A new UK Financial Reporting Council (FRC) report indicates that companies are falling short of investor expectations for quality, granular climate-related reporting. As we heard from SASB at Data Amplified, demand for climate-related reporting is growing. However, for reporting to be useful for investors, it needs to be clear and comparable. The FRC report provides practical guidance to […]
The European Securities and Markets Authority (ESMA) has published priorities for European regulators to consider when examining the 2019 annual financial reports of listed companies. In particular, ESMA have prioritised enforcing the recent changes made to financial reporting standards. This includes exercising significant judgement in the application of Lease disclosures under IFRS 16, noting the improvement […]
A new financial health dashboard tool launched by the California State Auditor allows the public to compare the finances of 471 cities within California. The hope is that this dashboard can help provide the kind of oversight needed to identify cities at risk of filing for bankruptcy or defaulting on municipal bonds. The dashboard found […]
Leslie Seidman first became involved with XBRL as the Chairman of the FASB, where she oversaw the development of the US GAAP Taxonomy. She also served on the board of Financial Executives International, where she regularly heard member companies say, “No one uses our XBRL filings!” Listen now to hear what happened next.
Over the past two days Data Amplified has heard a lot about the use of XBRL for standardisation within enterprises. During the plenary Mr Xie Haibin, Deputy General Manager of Finance at PetroChina, presented on how standardised granular data has been beneficial for PetroChina. Xie demonstrated how using structured transactional data has been crucial for […]
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