Views on improving the integrity of global capital markets

Financial Reporting


Blockchain and XBRL: The Myth

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.

Blockchain and the Consumption of Financial Information — an Investor Perspective

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.

Can Blockchain Technology Help with The Production of Financial Reporting Information?

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?

Second Quarter 2020 Amid COVID-19: Investor and Audit Committee Considerations

A plethora of non-GAAP and alternative performance measures will arise throughout 2020 to explain the effects of the COVID-19 pandemic. Investors need to critically evaluate the nature of the adjustments, what the resulting measure is meant to communicate, why the new or revised measure is being presented by management, and why the measure is a better or more meaningful measure. This information should be used as a jumping-off point for a conversation with management.

Second Quarter 2020 Amid COVID-19: Investor and Audit Committee Considerations

We encourage investors to “look under the hood” at the results — not for their predictive ability this quarter per se but rather for the ability of a company’s forward-looking statements to be evaluated and to make their own assessments of future prospects. Until there is a vaccine, company results and outlook will likely be filled with uncertainty, and these interim results can provide insight into the impact of the pandemic and how the business may respond in the future as the pandemic ebbs and flows over the next few years.

Second Quarter 2020 Amid COVID-19: Investor and Audit Committee Considerations

Due to the impact of COVID-19 on how companies are reporting during the second quarter/half year, investors likely need to perform their own going concern analysis.

Second Quarter 2020 Amid COVID-19: Investor and Audit Committee Considerations: Cash Is Not Just King, It Is Everything

As we noted in our introductory post on July 14, as the earnings season commences this week, we will undertake a series of posts over the next two weeks on issues we believe are important for… READ MORE ›

Second Quarter 2020 Amid COVID-19: Investor and Audit Committee Considerations

The second quarter, ending June 30, will result in US companies providing investors with the first look at the actual impact of COVID-19 on US public companies; and globally, companies will release their half-yearly results for the first time since the global surge in the pandemic.

Big Data: Ideal for Financial Reporting and for Tracking Covid-19 Impact

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.

E-Signatures for Audit Reports in India Are Allowed — Should Be Required

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.

Like Financial Reporting, COVID-19 Needs Structured Data

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.

First Quarter 2020 Amid COVID-19: Big Banks Report

Despite the best efforts of Congress, the big banks retained the new impairment model, the Cumulative Expected Credit Loss (CECL) model. CECL survives politics and is the story of first-quarter earnings.

Accelerated Filer Amendments Weaken Investor Protections

CFA Institute supports preserving the previous accelerated filer definition. The new one weakens investor protections.

First Quarter 2020 Amid COVID-19 Outbreak: US Quarterly vs. Global Half-Yearly Reporting

US quarterly reporting obligation will provide global investors with decision-useful information on impacts of COVID-19.

First Quarter 2020 Amid COVID-19: Non-GAAP Measures

COVID-19 may result in new Non-GAAP measures. Here's what investors need to know.



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