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FSB calls for better data on the non-bank sector

Building bridges: FSB calls for better data on the non-bank sector

September 20, 2024

Last week, John Schindler, Secretary General of the Financial Stability Board (FSB), addressed the Eurofi Financial Forum in Budapest, stressing the need for better data and regulatory coordination in the non-bank financial sector.

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dates in XBRL

Dates in XBRL: achieving consistency in financial reporting. 

September 20, 2024

Creating digital reports often involves making explicit certain information that legacy, analogue, reports leave implicit. While human readers can infer meaning from context and convention, XBRL requires data to be precise and unambiguous to ensure machines interpret it accurately.

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Transparency

EBA launches 2024 EU-wide transparency exercise

September 20, 2024

The European Banking Authority (EBA) has launched its 2024 EU-wide transparency exercise, offering a detailed look into the financial health of Europe’s banking sector. This data-driven initiative is part of the EBA’s preparations for the 2025 stress tests, aimed at ensuring a stable and resilient banking environment.

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clarity on EU regulation

Accountancy firms request clarity on EU CbCR regulation

September 20, 2024

KPMG and PwC have raised concerns over the draft EU regulations on country-by-country reporting (CbCR), seeking clearer guidance on the use of XBRL for tax reporting. The new rules mandate XBRL for reporting financial data, but specifics on its implementation are lacking, prompting calls for further clarification.

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EBA validation rules

EBA updates validation rules

September 20, 2024

Earlier this month the European Banking Authority (EBA) released an updated list of validation rules under its Implementing Technical Standards (ITS) on supervisory reporting.

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IFRS taxonomy update 2024: comments are in on changes for IFRS 18

September 13, 2024

The International Accounting Standards Board’s (IASB) move to update the IFRS Accounting Taxonomy follows the April 2024 release of IFRS 18, which sets a new standard for presenting and disclosing financial data.

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IFRS foundation releases guide to support regulators in digital implementations

September 13, 2024

The IFRS Foundation has released a new guide aimed at helping regulators integrate the IFRS digital taxonomies into their digital filing systems. The guide  supports regulators in meeting the growing need for structured, machine-readable financial and sustainability data, offering greater transparency and comparability across borders.

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Comments on SEC draft cybersecurity disclosure taxonomy

September 13, 2024

Earlier this summer XBRL US submitted comments to The Securities and Exchange Commission (SEC)  on the recently released draft Cybersecurity Disclosure (CYD) taxonomy.

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Australia aligns climate disclosures with international standards after extensive consultation

September 13, 2024

Last week Australia passed legislation that mandates climate-related financial disclosures for large entities.

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Carbon Accountable pushes for timely implementation of California’s corporate climate disclosure law

September 13, 2024

California’s Climate Corporate Data Accountability Act (SB 253) is set to enhance climate-related financial reporting, and a recent roadmap from Carbon Accountable confirms that its 2026 implementation timeline is feasible.

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