Europe will be the first jurisdiction in the world to require that crypto “white papers” – the specialised prospectus documents used by crypto asset issuers – must be prepared in Inline XBRL, ensuring that these pitch documents can be rapidly and effectively assessed.
At the start of July, the Korean Financial Supervisory Service (FSS) announced that, from 2025, KOSPI- and KOSDAQ-listed financial companies with assets exceeding KRW 10 trillion must adopt XBRL for their financial disclosures. In their 2025 semi-annual reports, these companies will be required to tag the financial statements notes in XBRL.
Last week Andreas Barckow, Chair of the International Accounting Standards Board (IASB), delivered a keynote address at the IFRS Foundation Conference which highlighting the growing complexity in financial reporting – and outlined the ways in which the IASB is navigating it.
Last week the European Financial Reporting Advisory Group (EFRAG) published Connectivity considerations and boundaries of different Annual Report sections, a paper which forms part of EFRAG’s research project on the interplay between financial and sustainability reporting.
The US Securities and Exchange Commission (SEC) has announced the publication of the draft Cybersecurity Disclosure (CYD) taxonomy to support the final rule on Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure.
The US’s Financial Data Transparency Act of 2022 (FDTA), which came into force in December 2022, mandates the Securities and Exchange Commission (SEC) to report on the use of machine-readable data for corporate disclosures.
The International Federation of Accountants (IFAC) has released a new publication that provides insight into what accountants should expect from the future of sustainability reporting assurance – in which they will play a key role.
The US Securities and Exchange Commission (SEC) has published the final Security-Based Swap (SBS) Taxonomy. This taxonomy will be integrated into the EDGAR 24.2 release, facilitating the digital filing of compliance and risk-management information by swap trading entities.
The International Finance Corporation (IFC), part of the World Bank Group, and the IFRS Foundation recently announced a strategic partnership to enhance standardised sustainability and climate reporting in emerging markets and developing economies.
The Netherlands has taken an important step toward requiring all private companies to file their annual accounts with the Chamber of Commerce exclusively in XBRL, starting from the 2025 financial year.
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