The Financial Reporting Council (FRC) Financial Reporting Lab has published the results of a survey carried out in May 2021.
The UK’s Streamlined Energy and Carbon Reporting (SECR) rules, which came into effect from 1 April 2019, provide an interesting example of mandatory climate reporting and potential insights for other jurisdictions implementing similar regimes.
The Bank of England’s financial watchdog, the Prudential Regulation Authority (PRA), has written to company CEOs discussing recent findings on the reliability of regulatory reporting, decrying poor practices, and reiterating its supervisory expectations.
The Bank of England is shifting from XML to XBRL for the collection of significant amounts of statistical data.
Tucked into Chapter 8 of the Financial Conduct Authority (FCA) Quarterly Consultation are proposals to allow UK issuers to use a wider range of XBRL taxonomies.
For those interested in reporting in the UK, the Financial Reporting Council (FRC) has issued its draft XBRL taxonomies suite for 2022 on the Yeti taxonomy viewer.
The International Federation of Accountants (IFAC) has submitted a thought-provoking response to the UK in its response to the UK Department for Business, Energy & Industrial Strategy (BEIS) consultation on wide-ranging reforms aiming to restore trust in the country’s corporate reporting, audit and governance regime.
The UK’s Financial Conduct Authority (FCA) is consulting on expanded climate-related disclosures, with comments due by 10 September.
What is UKSEF, how does it relate to European standards, and should companies use it? The UK has its own Inline XBRL format and taxonomy, the UK Single Electronic Format (UKSEF), an analogue to the European Single Electronic Format (ESEF).
Is the UK ready to implement the Inline XBRL-based European Single Electronic Format (ESEF)? What has the experience of filers been like so far, and what further support is needed? If you have thoughts, the UK Financial Reporting Council (FRC) wants to hear them!
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