Andreas Weller of the Single Resolution Board (SRB) made a presentation at Eurofiling last week about their upcoming shift to full XBRL reporting. The SRB are the authority charged with forming the single resolution mechanism (SRM) – a framework for the orderly closing (resolution) of failing banks within the EU, and a solution to the ‘too […]
Yesterday, the Federal Energy Regulatory Commission (FERC) announced that they are adopting the XBRL standard for utilities reporting on Form Nos. 1, 1-F, 2, 2-A, 3-Q electric, 3-Q natural gas, 6, 6-Q, 60, and 714. The final rule states: “The use of XBRL will make the information in these forms easier for filers to submit […]
Mohini Singh, ACA, Director of Financial Reporting, CFA Institute and Campbell Pryde, President and CEO, XBRL US have published a blog on the XBRL US website demonstrating why blockchain and AI cannot replace the XBRL standard. We sometimes hear the argument that XBRL is old technology and should be replaced with technologies like blockchain or […]
XBRL International held a Member Assembly meeting yesterday, with reports on strategy, current goals, objectives and initiatives, technical developments in the XBRL 2.1 stack of specifications and the Open Information Model as well as enhancements to official Guidance. Want to know more about the next steps for the Open Information Model? Better still, would you […]
Filing rules are specific technical requirements, including descriptions of limitations of filing system. They are needed to ensure that XBRL and iXBRL reports are accepted by data collection systems used by regulators, exchanges and data aggregators. Each reporting programme defines a list of filing rules addressing more or less the same categories of rules. The Filing Manual Task Force, […]
Last week saw the XBRL community in Europe gather in Paris at the 23rd XBRL Europe workshop, kindly hosted by the ACPR/Banque de France. With updates from ESMA on the ESEF mandate, as well as a range of information about XBRL developments across the region, the meeting saw: Working Groups from both XBRL Europe and XBRL International […]
Ukraine have been moving towards mandating XBRL for financial reporting for some time now and this week the National Commission on Securities and Stock Markets (NKTSBFR) announced that the new financial reporting system will officially be launched on 18 June 2019. The new digital financial reporting mandate makes use of the IFRS taxonomy, and will affect all […]
Amid growing momentum for disclosures in alignment with the Task Force on Climate-related Disclosures (TCFD) recommendations, Japans Ministry of Economy, Trade and Industry (METI), Financial Services Agency and Ministry of Environment are launching a Japanese TCFD Consortium, which will develop an effective implementation for the TCFD recommendations in that country. The TCFD Consortium offers a platform […]
The Capital Markets Authority (CMA) of Oman is seeking a contractor to implement an XBRL filing system which will include the ability to analyse financial and non-financial disclosures and generate reports on a web-based platform. Tender documents can now be purchased through 19 May, with proposals due on 30 June 2019. After registering with the […]
The XBRL US Data Quality Committee (DQC) has published its 9th Ruleset for a 45-day public review and comment period, which closes 15 June 2019. In addition to expanding on many existing rules, the latest ruleset contains a new category of checks that evaluates and identifies incorrect calculation relationships in the SEC filers company taxonomy.
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