The International Financial Reporting Standards (IFRS) Foundation has published the IFRS Taxonomy 2021. This year’s changes include three IFRS Updates that reflect amended IFRS Standards to support changes in reporting around specific issues.
In another annual taxonomy refresh, the US Financial Accounting Standards Board (FASB) has confirmed that the Securities and Exchange Commission (SEC) has approved its 2021 GAAP Financial Reporting Taxonomy (GRT) and 2021 SEC Reporting Taxonomy (SRT), together known as the ‘US GAAP Taxonomy.’
The Sustainability Accounting Standards Board (SASB) has published its new SASB XBRL Taxonomy, now out for public comment. We encourage all with an interest in XBRL and the future of Environmental, Social, and Governance (ESG) reporting to submit feedback by 3 May 2021.
As the first financial reports produced using the European Single Electronic Format (ESEF) are filed across Europe, we’ve been taking a little tour of the continent to find out how early implementation is unfolding – and this week we’re in Sweden.
We’ve been talking about the Open Information Model (OIM) in recent issues, with the release of a Candidate Recommendation set of specifications, moving inexorably towards final Recommendation status – and it will definitely be a big topic of conversation at our Data Amplified Virtual event.
As we continue to follow the news of both delays to the European Single Electronic Format (ESEF) mandate and early voluntary ESEF filings, useful as ‘dry runs’, we’re pleased to note a first from the Netherlands.
For anyone interested in XBRL information filed with the US Securities and Exchange Commission (SEC), our colleagues stateside have released a highly useful new tool, with accompanying guidance.
Did you know that the EU’s Single Resolution Board (SRB) has four key resolution tools it can use if a bank is failing? These aim to maintain banks’ critical functions and financial stability at minimal cost to taxpayers.
XBRL International has published an update to the Unit Type Registry, adding additional unit definitions to support the wide variety of disclosures required for sustainability reporting. In particular, the new units will enable reporting of energy usage and efficiency.
The XBRL Standards Board has approved the promotion a number of new XBRL Formula functions to Candidate Recommendation status. The new functions are intended to support the planned adoption of xBRL-CSV by a number of regulators around the world.
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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.
