Biography
Mohini Singh is director of financial reporting policy at CFA Institute. She represents membership interests regarding financial reporting and disclosure proposals issued by the FASB, the IASB, and others. Singh holds the Associate Chartered Accountant (ACA) designation.
Globally, regulations requiring public companies to provide information in an XBRL (eXtensible Business Reporting Language) format have steadily increased. But XBRL implementation has faced some challenges, particularly in the United States.
The quality… READ MORE ›
The best and most nuanced decisions come from the best and most nuanced information. Data need to be reliable, relevant, and easy to access and compare. This makes the question of how business performance is measured, reviewed, published, and analyzed an essential one.
Break the myth: The assumption that blockchain could replace XBRL in the production of financial information is incorrect. Blockchain is not a data standard. And XBRL is not a distributed ledger.
For blockchains to be adopted they must be standardized and provide interoperability solutions. To be of real value content and nomenclature must be consistent. For this to happens regulators need to work with industry and standard setting initiatives.
A recent CFA Institute report discusses what a blockchain is and answers the question posed in the article title, Can Blockchain Technology Help with The Production of Financial Reporting Information?
CFA Institute recently responded to
the Public Company Accounting Oversight Board’s (PCAOB) Concept Release, Potential Approach to Revisions to
PCAOB Quality Control (QC) Standards.
Regarding communication, the
Concept Release says,
For regulators to efficiently handle extremely large data sets, it will be easier with the imminent release of xBRL-CSV. An example from Spanish bank BBVA shows the value of this approach.
The PCAOB would like to hear from investors and is conducting an investor-specific survey in addition to their general request for comment. The deadline to complete the survey is May 29th.
Electronic signatures on audit reports should not just be permitted but, indeed, be required. Introducing e-signatures is a useful step toward increasing the digital usability and security of reports.
The XBRL webinar Data Analytics to Set Policy, Evaluate Investments, and More explains how access to better data is generating new ideas and enabling better decisions for everyone from standard setters and government policy makers to hedge funds, other buy-side firms, corporations.
reating the data using Inline XBRL would make it much easier for various parties to access, analyze, and reuse such information to improve pandemic management — just as it improves financial reporting.
Given the increased importance of company ESG disclosures, ESMA increased their enforcement activities on nonfinancial information in 2019.
CFA Institute supports preserving the previous accelerated filer definition. The new one weakens investor protections.
A new comment letter from CFA Institute to the Financial Accounting Standards Board (FASB) demonstrates the value of using structured data to inform debate and support policy decisions.
Recent business failures in the United Kingdom and the related media attention again have raised the question of audit quality.