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AustraliaCA ANZDigital

Australia urged to accelerate move to digital financial reporting

By Editor on February 23, 2025

The use of XBRL in Australia is currently voluntary, but that might be set to change. Chartered Accountants Australia and New Zealand (CA ANZ) has called on the government to mandate digital financial reporting for listed companies, arguing that structured, machine-readable data would improve efficiency and align Australia with global best practices.

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AISmartTaxonomyXII News

Will LLM’s make for smarter taxonomies? 

By Editor on February 23, 2025

How can large language models (LLMs) improve the way we work with XBRL taxonomies? In her latest blog, XBRL International Guidance Manager Revathy Ramanan explores how AI-powered tools can support taxonomy authors and software vendors, improving taxonomy quality, clarity, and usability.

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D6LEIVerificationvLEI

Verifiable LEIs: digital trust you can bank on

By Editor on February 23, 2025

Trust is a rare commodity in the digital world—fraudsters are getting smarter, deepfakes are getting eerily convincing, and financial crime is evolving faster than regulators can type “compliance update.” Enter the verifiable Legal Entity Identifier (vLEI), an innovation from the Global Legal Entity Identifier Foundation (GLEIF). 

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AIStructured Data

XBRL is outdated? 

By Editor on February 23, 2025

AI can replace structured data? That’s news to AI. Hear from XBRL International CEO John Turner on exactly why AI needs XBRL in his latest post. “XBRL isn’t a burden; it’s the fuel for AI-powered analysis, ensuring accuracy, comparability, and decision-usefulness,” he says.

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BaFinGermanyImplementation

BaFin expands XBRL reporting for insurers and pension funds

By Editor on February 23, 2025

Germany’s Federal Financial Supervisory Authority (BaFin) has expanded its use of XBRL, with new digital reporting requirements now in force for insurers and occupational pension funds. As of 1 January 2025, affected entities must submit their reports in XBRL format, aligning with BaFin’s push to standardise and streamline quantitative reporting. 

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DARTDisclosureFSSSouth Korea

South Korea expands English disclosure system to boost foreign investment

By Editor on February 16, 2025

South Korea’s Financial Supervisory Service (FSS) has announced a major expansion of its English-language electronic disclosure system (DART) to improve accessibility for foreign investors.

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ColumbiaImplementationSTORMSupersociedades

Colombia bids farewell to STORM as XBRL takes the lead

By Editor on February 16, 2025

At the XI Encuentro Contable & Tributario on 29 January, Colombia’s Superintendence of Companies (Supersociedades) announced a major shift in financial reporting: STORM is out, and XBRL is in. Soon, all corporate reports – both financial and non-financial – will need to be filed in XBRL format, bringing Colombia in line with international best practices.

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ClimateESGRuleSEC

SEC puts climate disclosure rule on hold amid legal challenges

By Editor on February 16, 2025

As anticipated, the Securities and Exchange Commission (SEC) took steps to pause its climate disclosure rule, originally adopted in March 2024.

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AIStructured Data

AI can enhance XBRL reporting – but it can’t replace it

By Editor on February 16, 2025

The idea that AI doesn’t need XBRL is a bit like saying that a self-driving car doesn’t need roads. It just doesn’t make sense. Yet with the European Commission’s Omnibus proposals sparking debate over regulatory simplifications, there are suggestions that companies don’t need to digitise their reports — perhaps AI can extract financial and sustainability […]

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ConsultationEIOPASolvency II

EIOPA consults on revised market share guidelines under Solvency II

By Editor on February 16, 2025

The European Insurance and Occupational Pensions Authority (EIOPA) has launched a public consultation on updated market share guidelines under Solvency II. These guidelines help determine which insurance and reinsurance firms qualify for limited reporting requirements, reducing their regulatory burden.

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