The Covid-19 crisis has prompted unprecedented, large-scale relief programmes in the US, creating new data collection needs that could benefit from the XBRL standard.
Having established a task force, the European Financial Reporting Advisory Group (EFRAG) is poised to proceed with the development of non-financial reporting standards, which, if implemented, would increase comparability, relevance and reliability of non-financial information.
The Sustainability Accounting Standards Board (SASB) is seeking feedback on recently published updates to its primary governance documents.
Early in August the European Banking Authority (EBA) published its final draft technical standards on disclosure and reporting on MREL and TLAC.
Europe are seeking expert input as they take the next step in the all-important process of building data standards for non-financial reporting.
The International Federation of Accountants (IFAC) has called on G20 leaders to strengthen commitments to transparent non-financial reporting in their long-term recovery from Covid-19.
The Covid-19 crisis has made it clear how important it is to be able to quickly access and interpret data in a rapidly moving market. While public companies in the US report XBRL-tagged financial information to the SEC quarterly, making up-to-date data relatively easy to analyse, municipal data is much harder to find.
Since 2015 the international regulatory Monitoring Group has been looking into a range of aspects associated with independence and governance around international standards for auditing with a review of the audit standard setting process.
With the criminal justice system and police reform in the spotlight recently, it would make sense to examine the data to make informed, effective changes. There’s one problem: the data itself.
The European Commission (EC) continued making headway on non-financial reporting this week with an announcement that the European Financial Reporting Advisory Group (EFRAG) is to develop recommendations for non-financial reporting standards.
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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.
