A recent paper from the Bank for International Settlements (BIS) demonstrates the importance of choosing the right data for producing company ratings.
With the Covid-19 fallout making unprecedented modifications to business-as-usual these past few months, the European Securities and Markets Authority (ESMA) has issued updated guidance on the application of Alternative Performance Measures (APM Guidelines) in context of the pandemic. The new Q&A highlights the main relevant principles of the APM Guidelines, which should be used when […]
The International Accounting Standards Board (IASB) invites investors to join two outreach webinars in May to discuss proposals for improvements to financial statements. The focus will be on how to improve information communicated in income statements. The IASB published the General Presentation and Disclosures exposure draft in December, which proposed replacing IAS 1 Presentation of […]
The US Securities and Exchange Commission (SEC) has adopted long-proposed changes to filer definitions, designed to ease the reporting burden and compliance costs for small filers. The amendments mean smaller reporting companies – those with less than $100 million in revenue – will no longer need to obtain a separate attestation of their ability to maintain […]
Following announcements from India’s SEBI and the SEC in the US, further authorities are delaying and relaxing reporting requirements and planned updates in the wake of the COVID-19 crisis. Italy has relaxed rules surrounding annual statement drafting procedures and extended the deadline for financial statements to December. Columbia’s Supersociedades has also extended the deadline for companies to […]
XBRL US has submitted a comment letter expressing support for the SEC proposal Disclosure of Payments by Resource Extraction Issuers, File Number S7-29-14. The proposal would require machine-readable XBRL for the disclosure of payments by resource extraction firms. It is designed to provide more information to global commodity markets, and to hold governments accountable for the […]
Earlier this year the SEC introduced the FAST Act, which aimed to modernise and simplify disclosures with a number of measures including mandating Inline XBRL tagging for the cover sheets of key documents. This small but useful change introduces comparable, machine-readable index information, improving market access to data, even for documents that are not otherwise […]
The European Insurance and Occupational Pension Authority (EIOPA) has launched a consultation on the appropriateness and proportionality of public disclosure, in preparation for its 2020 Solvency II Review. EIOPA is assessing the appropriateness and proportionality of supervisory reporting and public disclosure content, volume, frequency and deadlines, and checking if existing exemption requirements are sufficient. While […]
California could be on their way to join Florida in leading America’s state and local government towards transparent, easily accessed financial statements. The Open Financial Statement’s Act, SB 598, which has passed in the Senate and is soon to go to Senate Assembly, is the latest in a long trail of small steps towards local […]
Under a proposed new Green Finance Strategy announced this week the UK Government expects listed companies and large asset owners to disclose the impact of climate change on their businesses from 2022. The Treasury is considering the most effective way of ensuring that this disclosure happens, including, if necessary, requiring mandatory disclosure. The Green Finance […]
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XBRL International is a global not for profit operating in the public interest. Our purpose is to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting.
