The Financial Reporting Council (FRC) has published a draft version of the 2025 Taxonomy Suite and is inviting public feedback until 20 September 2024. This draft introduces several important updates designed to enhance digital financial reporting and provide clearer information for users.
Over the summer the Financial Accounting Standards Board (FASB) published a number of proposed updates and improvements to the GAAP Financial Reporting Taxonomy, inviting public feedback to refine these standards and enhance the clarity and consistency of financial reporting. Although the feedback period for these updates is now closed, the proposed changes are worth noting.
The US Securities and Exchange Commission’s (SEC) Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system was upgraded to Release 24.2 this month, incorporating updates to its XBRL taxonomies.
The US Securities and Exchange Commission (SEC) has announced the publication of the draft Cybersecurity Disclosure (CYD) taxonomy to support the final rule on Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure.
We are pleased to announce that the new Country Code and Currency Code taxonomies have been promoted to Recommendation status. These taxonomies provide lists of ISO codes for countries and currencies, simplifying the incorporation of standard codes in XBRL reports, as mandated in various regulatory filings.
The Global Reporting Initiative (GRI) recently launched a public consultation for its new GRI Sustainability Taxonomy draft, open until 11 August. To delve deeper into this initiative, XBRL International recently spoke to Piers Horner, who led the development of the taxonomy:
This week the Global Reporting Initiative (GRI) launched a public consultation for its new GRI Sustainability Taxonomy draft, which will be open until 11 August 2024. This initiative aims to gather feedback from XBRL experts and sustainability specialists on the design of the new taxonomy.
With the second IFRS digital taxonomy planned for publication on 30 April, this week the IFRS Foundation unveiled a short video designed to demystify the concept of IFRS digital taxonomies and illustrate how they empower companies to present information in compliance with IFRS Standards in a structured, machine-readable format.
The IFRS Foundation has published the 2024 IFRS Accounting Taxonomy, facilitating the digital reporting of financial information aligned with IFRS Accounting Standards. This release enables companies to efficiently tag disclosures, enhancing accessibility for investors.
On 18 March the US Securities and Exchange Commission (SEC) Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system underwent an upgrade to Release 24.1, now supporting the 2024 taxonomies.
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