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Items tagged with "UK"

FCA announces ‘regulatory nursery’ for new companies

The UK’s Financial Conduct Authority (FCA) has unveiled plans to establish a ‘regulatory nursery’ for newly-authorised financial services companies, creating a period of greater oversight and guidance as they develop.

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UK seeks views on mandatory climate disclosures

The UK’s Department for Business, Energy & Industrial Strategy (BEIS) has published a consultation on mandatory disclosures in line with the recommendations of the Task Force on Climate-related Financial Disclosure (TCFD).

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UK government proposes major reporting, audit and governance overhaul

The UK’s Department for Business, Energy & Industrial Strategy (BEIS) has published its long-awaited white paper on wide-ranging reforms to the country’s corporate reporting, audit and governance regime, and launched a consultation on the proposals.

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Bank of England to transform data collection

The Bank of England has unveiled its plans for renewing the way that it collects data. In ‘Transforming Data Collection from the UK Financial Sector: A Plan for 2021 and beyond,’ it sets out a decade-long effort to transform its ability to gather and make available high-quality, timely data.

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SECR: energy and carbon data in UK annual reports

With so much recent discussion of standards for Environmental, Social and Governance (ESG) disclosure, particularly sustainability metrics, it is interesting to revisit the example of one country that is forging ahead with mandatory reporting.

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A digital future: We respond to BEIS on Companies House reforms

XBRL International has responded to the consultation by the UK’s Department for Business, Energy & Industrial Strategy (BEIS) on a significant overhaul of the powers and role of Companies House, that country’s national business registrar.

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UK PRA guidelines on third-country branch reporting updated

The UK’s Prudential Regulation Authority (PRA) has issued an updated version of its ‘Guidelines for completing regulatory reports’, taking effect from 29 December 2020. Its supervisory statement now includes a new chapter on third-country branch reporting.

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BEIS consults on Financial Data Improvements

The UK’s Department for Business, Energy & Industrial Strategy (BEIS) has launched a consultation on an upcoming major overhaul of Companies House rules designed to improve the quality and value of financial data.

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UK delays Audit of iXBRL Tagging

The EU’s ESEF mandate includes a requirement for the assurance of ESEF-compliant disclosures – but how that will work in practice is dependent on the interpretation of local jurisdictions.

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A model for Financial Reporting?

A recent paper by Mike Power, professor of accounting at London School of Economics (LSE), argues that the UK needs to address fundamental weaknesses within its financial reporting system.

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