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Items tagged with "Standardisation"

Standardisation needed! XBRL US comments on Treasury Do Not Pay Initiative

XBRL US has written to the US Office of Management and Budget (OMB) on its proposal to add a further 12 databases to the Treasury’s Do Not Pay (DNP) web portal.

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Emerging Markets should embrace Standards

A recent report from the IOSCO Growth and Emerging Markets Committee (GEMC) examining the challenges and opportunities facing emerging capital markets as they develop and grow.

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UK Government sets out standardisation drive in Data Strategy

The past few months have demonstrated just how important timely, accurate data is to making the right policy decisions – and how a lack of coherent data can even cause significant damage.

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ESAs call for mandatory standardised ESG Disclosure in NFRD response

The European Securities and Markets Authority (ESMA), European Insurance and Occupational Pensions Authority (EIOPA), and European Banking Authority (EBA), or ESAs, have provided a joint letter to the European Commission highlighting key messages in their response to the review of the Non-Financial Reporting Directive (NFRD). The ESAs agree that the NFRD needs revising to meet […]

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Drilling Down to the Details

A major focus for this year’s Data Amplified is the use of standardisation for reporting within the Enterprise, with transactional and ledger level data being tagged in accordance with taxonomies defined by and managed by business experts. Combined with big data systems for storage and aggregation, which is in turn driven by the taxonomy, this approach […]

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Banks Fear Big Tech in Booming Payments Market

The global digital payments market is booming – with standardisation and new open data regulation playing no small part in the rapid growth. Banks, however, seem to be struggling to keep up with big tech competition in the payments industry. The 2019 Capgemini World Payments Report shows non-cash payments growing rapidly, particularly in developing markets […]

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Join us in Shanghai: China’s Global Hub

Join us this October in Shanghai, China’s technology hub, for Data Amplified 2019. As China’s world class financial and economic centre, Shanghai is an exciting place to debate and discuss the future of business reporting. Famously entrepreneurial, characterised by constant change and towering skyscrapers, and the centre of China’s technology boom, this October Shanghai will […]

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How to Deal With Big Data? 

The SEC’S Chief Economist and Director, S.P. Kothari, made a speech this summer highlighting how standardisation can help tackle the challenges presented by big data. While big data is certainly not a new concept, the digital era has accelerated data collection immensely, with some estimates indicating that the world now generates more data every two days than all of […]

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Standardised Reporting Relevant for Business

Dr Nicolas Peter, Chief Financial Officer of BMW AG, gave a keynote address outlining BMW’s own experiences with standardised reporting at a stakeholder event in Munich on 26 June 2019, hosted by the IFRS Foundation and the Deutsche Rechnungslegungs Standards Committee (DRSC). Dr Peter demonstrated how the development of global, uniform accounting, underpinned by the […]

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Can Digitisation Improve Productivity? 

The implementation costs for digitising almost any aspect of society are easy to calculate, but what about the productivity benefits? In a speech at Eurofiling Conference 2019 Erkki Liikanen, Chair of the Trustees of the IFRS Foundation, discussed whether digitisation will eventually deliver increased productivity for the global economy. With the economic benefits of globalisation […]

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