Ukraine is gearing up for XBRL-based financial reporting for the first time in 2021. With a new, tailored taxonomy and data collection system in place, the country is looking forward to improved reporting and structured financial data in a single electronic format that will be comparable and compatible with EU and international standards.
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.
Forget Netflix – for your Friday-night viewing turn to Finextra TV as Campbell Pryde, CEO of XBRL US, and Madhu Mathew, Director of Technology at the Sustainability Accounting Standards Board (SASB) join Richard Peers of ResponsibleRisk.
We’re still finalising the outstanding lineup of speakers for April’s free, virtual Data Amplified conference, but let’s take a little sneak peek. Mohini Singh, ACA, Director of Financial Reporting Policy at CFA Institute and Treasurer of the XBRL International Board of Directors, will be taking no prisoners as she busts XBRL myths.
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.
Dr Ghislain Fourny of leading university ETH Zürich (yes, that’s Einstein’s alma mater) has kicked off the year with a new edition of his The XBRL Book, with 2020/2021 updates. He describes the book as “by and for technical people,” for those who need to understand XBRL in fine detail.
It’s been a busy week for our colleagues in the US. XBRL US has submitted a letter to the Municipal Securities Rulemaking Board (MSRB) planning exercise on Strategic Goals and Priorities, urging it to consider how data standards would enhance the current Electronic Data Municipal Markets Access (EMMA) data collection and dissemination process. XBRL US expressed […]
The Russian Ministry of Finance has released the ‘Interagency Working Group’s work plan for IFRS applications for 2021’, with a tantalising glimpse of XBRL unification. The working group will cover a wide range of issues relating to International Financial Reporting Standards (IFRS), which were endorsed for use in the Russian Federation in 2011 and have […]
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.
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