It is rapidly becoming clear that Inline XBRL is now the new normal for corporate reporting. The European Single Electronic Format (ESEF), discussed elsewhere in this newsletter, might be this year’s biggest attention-grabber but it is by no means the only game in town.
In addition to the new xBRL-CSV and xBRL-JSON specifications discussed above, this year has seen a number of ongoing and incremental improvements to the XBRL standard. Various new and updated draft specifications are available for experimentation, review and comment.
It might be December but there is still plenty happening! Read on for more on the new ISSB Chair, ESMA taxonomy, new SEC rules and digital strategy at EIOPA.
The Hong Kong Inland Revenue Department (IRD) looks set to launch Inline XBRL-based digital tax reporting for business within the next 18 months. An new consultation paper sets out progress so far and proposals for moving forward.
The XBRL Standards Board has approved the publication of an initial Public Working Draft of the Calculations 1.1 specification and an accompanying requirements document.
The XBRL Standards Board has approved updates to both the Data Type Registry and the Unit Type Registry. This update contains new draft data types and units that provide support for reporting greenhouse gas emissions.
Toppan Merrill have recently released a series of four very short videos, drawn from their September webinar on the question of ‘12 Years After the SEC Mandate. Has it All Been Worth it?’ – to which, of course, the answer is yes!
A new pilot programme in Flint, Michigan will explore how the use of XBRL can improve transparency in fiscal reporting and lead to better governance, potentially averting crises in municipal finance.
The International Financial Reporting Standards (IFRS) Foundation yesterday published its ‘IFRS Taxonomy 2021—Proposed Update 2 Technology Update’. The IFRS Taxonomy allows financial reports using the IFRS standards to be digitally tagged using XBRL.
The Financial Conduct Authority (FCA) has recently released two key pieces of updated guidance on structured reporting for issuers in the UK using the Inline XBRL-based European Single Electronic Format (ESEF).