Special Delivery
The XBRL Standards Board has approved an initial Public Working Draft of the Report Packages specification, along with an update to the requirements document.
Items tagged with "Standards"
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Speech: The Paradoxes Plaguing Sustainability Reporting
The past year has seen growing consensus on the need for non-financial reporting standards in order to mitigate climate-related financial risks and help investors divert capital towards more sustainable ends. However, sustainability reporting is a complicated task, and a number of difficult questions need to be answered before effective standards can be established.
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SEC ESG Committee advocates Standards
In other sustainability standards news, the US Securities and Exchange Commission’s (SEC’s) Asset Management Advisory Committee recently published its recommendations on Environmental, Social and Governance (ESG) disclosure.
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EFRAG updates on Non-Financial Standards
Regular readers of this newsletter may remember that recently the European Commission (EC) tasked EFRAG with exploring possible EU non-financial reporting standards that could form part of a revised Non-Financial Reporting Directive (NFRD).
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IFRS Foundation aims for coherence, not complexity
Sustainability Accounting Standards Board (SASB) CEO, Janine Guillot, believes that the IFRS Foundation’s Consultation Paper on Sustainability Reporting is the most significant development in accounting standard-setting since the creation the IASB in 2001. And, with the stakes this high, she argues that it’s crucial to get it right.
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FASB delays Insurance Standards update
Following similar moves from the IASB, the Financial Accounting Standards Board has issued an update designed to help alleviate the burden on companies affected by Covid-19.
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ESG Standards would support Bank Stress Tests
Banks’ ability to carry out climate change related stress tests could be vastly improved by standardisation of corporate ESG risk disclosures, according to a new report published by Fitch Ratings.
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Blockchain and XBRL: The Myth
This is a guest post by Mohini Singh, ACA, Director Financial Reporting Policy at CFA Institute. Originally published here. Currently, many jurisdictions around the world require public companies to produce financial reports using XBRL. The myth that blockchain could replace XBRL in the production of financial information is incorrect. Blockchain is not a data standard. […]
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Wes Bricker: Sustainability Data needs “Investment-Grade Process”
Following the recent announcement that the Sustainability Accounting Standards Board (SASB) is working with PwC to develop an XBRL taxonomy, Wes Bricker, vice chair of PwC US and Mexico and Vice Chair of XBRL International’s Board of Directors, recently spoke about XBRL, standards and sustainability at a PwC event.
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Standards Enable E-Invoicing
Open standards for digital data exchange are key for keeping e-invoicing and e-procurement safe and sustainable, says Annemieke Toersen, senior IT standards advisor at the Netherland’s Standardisation Forum.
