The SEC’s recently expanded requirements to report in Inline XBRL have been met with optimism, with the change being linked to increasing simplicity, improving data quality and use and enabling financial analysis. Craig Clay, president of global capital markets at Donnelley Financial Solutions, has highlighted how companies are looking to automate and streamline compliance reporting, […]
In anticipation of the upcoming European Single Electronic Filing (ESEF) mandate, the XBRL International Base Spec Working group has prepared new transformation rules that allow dates to be reported in Inline XBRL documents using different European languages and conventions. The working group is actively seeking feedback and review of these rules in order to ensure that they will meet the […]
The European Securities and Markets Authority (ESMA) has published an update of its European Single Electronic Format (ESEF) Reporting Manual including expanded guidance on common issues encountered when generating XBRL documents in line with ESEF regulation. The manual is aimed at all market participants implementing ESEF, and should be particularly helpful for those preparing IFRS […]
Last month saw the 23rdXBRL Europe Day, held in Paris from 28-29 May. More than 150 attendees got the latest news on ESEF, participated in working groups and networked over dinner in a French Brasserie. See here for a video of how the day unfolded and to access links to the various presentations.
The 10th XBRL Asia Round Table was held within a joint program with the Asian Development Bank (ADB) in Tokyo this week. Amongst many other presentations, delegations from the Japanese FSA, the Central Bank of the Russian Federation, the Reserve Bank of India, and the U.S. Federal Deposit Insurance Corporation shared their strategies for regulatory modernisation and digitisation.
At the 10th XBRL Asia Round Table in Tokyo delegations from the Indonesia Stock Exchange, Taiwan Stock Exchange, XBRL Korea and Companies Commission of Malaysia (SSM) shared updates on their current XBRL implementations and future roadmaps. Each of their projects is working towards enhancing the scope of reporting in XBRL, and trying to improve the efficiency of […]
Andreas Weller of the Single Resolution Board (SRB) made a presentation at Eurofiling last week about their upcoming shift to full XBRL reporting. The SRB are the authority charged with forming the single resolution mechanism (SRM) – a framework for the orderly closing (resolution) of failing banks within the EU, and a solution to the ‘too […]
Yesterday, the Federal Energy Regulatory Commission (FERC) announced that they are adopting the XBRL standard for utilities reporting on Form Nos. 1, 1-F, 2, 2-A, 3-Q electric, 3-Q natural gas, 6, 6-Q, 60, and 714. The final rule states: “The use of XBRL will make the information in these forms easier for filers to submit […]
Mohini Singh, ACA, Director of Financial Reporting, CFA Institute and Campbell Pryde, President and CEO, XBRL US have published a blog on the XBRL US website demonstrating why blockchain and AI cannot replace the XBRL standard. We sometimes hear the argument that XBRL is old technology and should be replaced with technologies like blockchain or […]
XBRL International held a Member Assembly meeting yesterday, with reports on strategy, current goals, objectives and initiatives, technical developments in the XBRL 2.1 stack of specifications and the Open Information Model as well as enhancements to official Guidance. Want to know more about the next steps for the Open Information Model? Better still, would you […]