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 […]
It’s great to see that the US Securities and Exchange Commission (SEC) is doubling down on its commitment to digital disclosures across a wide area. This week the SEC adopted an amendment mandating Inline XBRL reporting for closed-end investment companies. Today’s modern securities regulators need well defined, searchable, structured and digital data. The Securities Offering Reform […]
This week investment powerhouse BlackRock – who manage $7 trillion of assets – set out a compelling case that climate change is a defining factor in companies’ long-term prospects – and their plan to tackle this by becoming a leader in sustainable investing. The world’s largest fund manager plans to divest from companies who get more […]
Recordings of the XBRL US Investor Forum on Driving Actionable Analytics are now available online. The forum, held earlier this month in New York, provided practical information on how data standards are disrupting the information ecosystem, how modern data can be leveraged, and what comes next. Beginning with a keynote speech from FASB Chairman Russell […]
How should Environmental Social and Governance (ESG) data be reported in order to best cater to the needs of investors? Earlier this week Securities and Exchange Commission (SEC) Chairman Jay Clayton explored this topic in remarks to the Investor Advisory Committee. The Investor Advisory Committee advises the SEC on various regulatory priorities, including the effectiveness […]
This week the US Financial Accounting Standards Board (FASB) Chairman Russell Golden gave some insightful remarks on the development, utility and future potential of XBRL data at the 2019 XBRL US Investor Forum on Driving Actionable Analytics. Golden joined FASB at the beginning of the SEC’s voluntary programme of XBRL filing, and has seen the […]
A new UK Financial Reporting Council (FRC) report indicates that companies are falling short of investor expectations for quality, granular climate-related reporting. As we heard from SASB at Data Amplified, demand for climate-related reporting is growing. However, for reporting to be useful for investors, it needs to be clear and comparable. The FRC report provides practical guidance to […]
A CFA institute survey in response to the Securities and Exchange Commission’s (SEC) request for comment on the debate over quarterly reporting has emphatically shown there is no support for altering reporting intervals amongst investors. The SEC has been debating the idea that quarterly disclosures, especially when coinciding with voluntary earnings releases, could be too […]
The theme of the importance of easy access to data was continued at the XBRL US Investor Forum 2018: Powering Fintech the week before last, with SEC Commissioner Robert J. Jackson’s keynote speech highlighting the need to improve access to publicly available data.
Jackson argued that the investing public view data as either public or private – but that this misses a third type of data, public but hidden. Acquiring publicly available data from the SEC disclosure website can be costly, error-prone and time-consuming, creating an exclusionary barrier to this information.
This is the sixth in a series of guest posts from Mohini Singh, ACA, Director, Financial Reporting Standards, CFA Institute. This post is an extract from the CFA Institute’s comments on the European Commission’s ‘Fitness Check on the EU Framework for Public Reporting by Companies’ consultation document. The CFA Institute has long supported improving digital access […]
Join our Newsletter mailing list to
stay plugged in to the latest
information about XBRL around the world.
By clicking submit you agree to the XBRL International privacy policy which can be found at xbrl.org/privacy
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.
