The International Accounting Standards Board (IASB) has published proposals for a new International Financial Reporting Standards (IFRS) standard that would give investors better information about financial performance of rate-regulated companies.
In January, the International Integrated Reporting Council (IIRC) published revisions to its International <IR> Framework designed to enable more decision-useful reporting. The changes follow an extensive consultation to review the framework, which identified areas for clarity and simplification.
Ukraine is gearing up for XBRL-based financial reporting for the first time in 2021. With a new, tailored taxonomy and data collection system in place, the country is looking forward to improved reporting and structured financial data in a single electronic format that will be comparable and compatible with EU and international standards.
In more implementation news, we bring you an update from Oman, where progress towards XBRL-based reporting is well advanced and a series of stakeholder meetings is set to offer valuable training, discussion and feedback.
In more news from the US Securities and Exchange Commission (SEC), on 3 February the Commission posted a new rule on electronic submissions to its EDGAR system in the Federal Register.
Many of us have been carefully watching the progress of the European Single Electronic Format (ESEF) mandate. ESEF, underpinned by Inline XBRL, has seen the market rapidly develop new, innovative and competitive tools for compliance to meet the needs of companies that seek to mix “Data+Design”.
Forget Netflix – for your Friday-night viewing turn to Finextra TV as Campbell Pryde, CEO of XBRL US, and Madhu Mathew, Director of Technology at the Sustainability Accounting Standards Board (SASB) join Richard Peers of ResponsibleRisk.
News from Liechtenstein. (Not something we see every day!) Its Financial Market Authority (FMA) has developed its own national XBRL taxonomy, including a DPM-based Table and Formula Linkbase. This will primarily be used by insurance companies, of which Liechtenstein has around 40, for quarterly statutory reporting.
How do you spot financial reporting errors or attempted fraud before they grow into problems? And – when serving a population of over 1.3 billion people – how can you both boost data quality and make the reporting and review process as efficient as possible? For the Institute of Chartered Accountants of India (ICAI), the […]
Five global organisations in sustainability and integrated reporting have together published a paper addressing standards for reporting on enterprise value, illustrated with a prototype climate-related financial disclosure.
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