While the financial services sector has transformed dramatically in the last few decades, taking advantage of the technological power of the fourth industrial revolution, tax and regulation has been slow to catch up.
Learn how organisations around world are using new technologies and processes to both increase the efficiency and effectiveness of reporting programs whilst making data more useful and available.
Economic Development and Innovation Minister Mikael Damberg announced recently that the Swedish government is going to start pushing firms towards digital submission of financial reports, with the aim of making such practice mandatory in 2018.
The Australian Tax Office has begun transitioning preparers towards exclusive use of a new reporting channel that will further advance SBR in that country.
An in-depth look at Reporting 3.0 in Estonia from a presentation by Margus Tammeraja, Chairman of the Board at the Association of Estonian Accountants at the Real Time Economy Conference in Finland.
The Tax and Customs Administration of Estonia has committed to automated filing of payroll and personnel information by 1 January 2018.
Should transparent tax and financial reporting should be extended to the individual, especially elected officials? Would XBRL have a role?
The Central Bank of the Russian Federation has published its roadmap of strategies for developing more robust financial markets in that country. The document covers everything from improving the financial literacy of the general public, to improving access to capital, promoting transparency and participation in efforts to stabilise global markets.
The ATO recently published its annual report for 2014-2015, chronicling some impressive growth for the SBR program in the areas of taxation, business registration and pension reporting.
The Companies House and HMRC XBRL programmes are extremely successful, having been done in a way that is both very cost effective for filers and beneficial to those interested in utilising structured corporate data for analysis. Read two white papers by XBRL UK examining this success.