Financial Reporting Quality
CFA Institute believes all companies should be required to maintain and report the Legal Entity Identifier of a registrant and its major subsidiaries.
Much has been written and discussed about the merits of digital financial reporting. Some concerns still need to be addressed, however, such as reviewing or validating these reports using eXtensible business reporting language (XBRL) against a set of standards…. READ MORE ›
Survey finds that companies are not using structured data, such as XBRL, in their financial reporting except when they have to for reporting to regulators.
In support of the use of data in financial reporting, the SEC commissioner proposed creating a new office and task force to design a data strategy and reimagine how data is provided to investors.
The current financial reporting process is time consuming and costly. Structuring data could streamline the process and provide more transparent and timely information for investors.
Using demand-side thinking gives investors the information they want and achieves the best financial reporting.
IAASB’s new standards will live up to the hype — more transparency for investors and key stakeholders to ensure market integrity. How have we helped shape the new standards rolling out in 2017?