Implementation

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Korean FSS expands XBRL application and bolsters support for listed companies

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.

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DJPImplementationIndonesia

Indonesia progresses trials of XBRL financial reports

By Editor

As part of a programme of tax reporting modernisation, the Directorate General of Taxes (DJP) in Jakarta is embarking on phase II of its trial for submitting financial reports using XBRL.

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FCAImplementationSpec

FCA adds new specs to system

By Editor

The UK’s Financial Conduct Authority (FCA) has made an upgrade to their filing system, adopting the recently finalised specification update Calculation 1.1 specification and permitting .xbri file extensions in line with the Report Packages specification.

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EGXEgyptImplementationStock Exchange

Egyptian Exchange revolutionises financial transparency with XBRL

By Editor

The Egyptian Exchange (EGX) is set to roll out an ambitious new electronic trading system – not only to upgrade EGX’s technological infrastructure, but also introducing XBRL for electronic disclosure by 2025.

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GLEIFIdentifiersImplementationLEI

GLEIF keeps pace with updated regulatory LEI implementations

By Editor

The Global Legal Entity Identifier Foundation (GLEIF) plays a pivotal role in monitoring and facilitating the adoption of the Legal Entity Identifier (LEI) in regulatory reporting and supervision. GLEIF regularly updates its list of current and proposed regulatory activities involving the utilisation of LEIs, reflecting the ongoing commitment to transparency and regulatory compliance.

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ImplementationSECSROTaxonomyUS

SEC’s 2024 SRO Taxonomy introduces XBRL

By Editor

The US Securities and Exchange Commission (SEC) recently implemented several rule amendments aimed at enhancing the settlement cycle for broker-dealer transactions and related processes. A draft taxonomy – the 2024 Self-Regulatory Organizations (SRO) Taxonomy – has now been published to support the new rules.

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ImplementationSouth Korea

South Korea sees the benefits of expanded XBRL

By Editor

With South Korea expanding the scope of XBRL tagging to include the notes to accounts, FNN news recently interviewed Hyeong-nam Lee, Director of Deloitte’s XBRL Center, about their experiences with the standard.

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ImplementationKorea

XBRL spearheads trust and transparency in Korean financial landscape

By Editor

In a recent interview with Mr Lee Byungrhae (이 병 래 ), Secretary General of XBRL Korea and Vice Chairman of the Korean Institute of Certified Public Accountants, he highlighted the pivotal role of XBRL expansion in fortifying global trust, addressing the “Korea discount,” (international valuation gap) and enhancing corporate transparency.

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FERCImplementationUSxBRL-CSV

FERC’s Modernisation Plan: Shifting to xBRL-CSV for Electric Quarterly Reports

By Editor

On 19 October the US Federal Energy Regulatory Commission (FERC) unveiled a Notice of Proposed Rulemaking aiming to revamp the Electric Quarterly Report (EQR) filing process and data collection.

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DigitisationImplementationInline XBRLISAIsrael