“Why is there such hesitation regarding standardisation, and why are people afraid that it will put a dampener on innovation?” asks Björn Fastabend. He argues that standardisation, such as in the introduction of XBRL for digital reporting, can in fact nurture and facilitate innovation.
Madhabi Puri Buch, Chairperson of the Securities and Exchange Board of India, offers engaging insights on ‘data and technology in the capital markets’ in a Foundation Day lecture at the Indian Institute of Management Bangalore.
This is a guest opinion piece from Björn Fastabend. Björn is head of the XBRL collection and processing unit at BaFin, Germany’s Federal Financial Supervisory Authority, where he supervises all related activities and propagates international relations and initiatives. He also brings us his wealth of experience in implementing digital reporting as Chair of XBRL International’s […]
Europe is requiring companies to report on alignment of their activities with the EU Taxonomy, providing sustainability information to investors. CoreFiling and Greenomy demonstrate how these rules can be captured in digital form, in an XBRL taxonomy and report.
Earlier this month, Georgia’s Service for Accounting, Reporting and Auditing Supervision (SARAS) held a kick-off workshop for its ‘Feasibility Study of the XBRL Standard Implementation in Georgia.’
CPA Australia’s INTHEBLACK magazine discusses ‘Why digital financial reporting should be mandatory,’ as momentum toward digitisation Down Under continues to build.
The UK Financial Reporting Council (FRC) has issued its 2023 Taxonomy Suite.
The Central Bank of Ireland (CBI) affirms that Bank and Investment Firm Resolution Fund (BIFR) reporting is switching to XBRL.
The Financial Stability Board recommends greater convergence in cyber incident reporting, including a common format for incident reporting exchange, or FIRE. We urge a digital-first approach using XBRL to ensure comparability and effective analysis.