Good news for Korean speakers! The International Financial Reporting Standards (IFRS) Taxonomy 2020 labels in Korean are now available. Alongside the taxonomy, versioning information shows changes from previous years.
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 case you missed it (oops – we did!), in December the US Financial Accounting Standards Board (FASB) released its updated taxonomies for the coming year.
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.
The European Banking Authority (EBA) has published an erratum for the technical package on its reporting framework 3.0 phase 1.
In December, Colombia’s Superintendency of Residential Public Services (Superintendencia de Servicios Públicos Domiciliarios, or Superservicios) launched a new quarterly reporting requirement for Special Financial Information (Información Financiera Especial, IFE), based on a newly published XBRL taxonomy.
The European Banking Authority (EBA) has updated its reporting framework v3.0, and its Implementing Technical Standards (ITS) on institutions’ Pillar 3 public disclosures. These changes are driven by the European Commission’s adoption of the ITS on supervisory reporting (v3.0), which includes changes introduced by the revised Capital Requirements Regulations (CRR2) and the Prudential Backstop Regulation.
Late last year, following an accelerated amendment process, the International Accounting Standards Board (IASB) issued a package of amendments to the IFRS Standards designed to help ease the ongoing Inter-Bank Offered Rates (IBOR) transition. The amendments should ensure that investors and regulators have sufficient, useful information about the effects of the reform on entities.
XBRL International’s various task forces have been hard at work across 2020 to bring us new guidance materials that help point users of XBRL in the right direction.
The European Securities and Markets Authority (ESMA) this week published the 2020 ESEF XBRL taxonomy files and updated the ESEF Conformance Suite in order to facilitate the implementation of the upcoming ESEF regulation.
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