With over 150 million data points in this structured database, XBRL has the potential to increase the volume, speed, and access to corporate financial reporting and analysis.
Increasingly, auditors are expected to have a bigger and more effective role in ensuring the integrity of a wider array of company reported information that is material to investment decision making.
Transforming regulatory reporting from documents into data can make markets more efficient, empower investors, and improve regulatory oversight while also reducing compliance costs.
Structured data, data analytics, and technology can bring greater efficiency for all parties in the financial reporting chain.
The benefits of adopting IFRS that firms enjoy depends on when they adopt, what reporting standards were like in their jurisdiction, and how well those standards are enforced.
The reasons behind possibly extending account alternatives to public companies are different from when those alternatives were extended to private companies, and they are not the right reasons.
The second set of proposed XBRL guidance and validation rules from the US DQC are now open for public review and comment. We encourage you to participate. Deadline is 31 August.
With its impressive findings, a 60% to 70% drop in filers’ errors, the DQC hopes more companies will use its validation rules to prevent or spot variations or errors in XBRL data filed with the SEC.
Watch the Financial Reporting Council’s Jennifer Walmsley discuss with Vincent Papa, PhD, CPA, CFA, the focus of the council’s engagement with investors in the next 12 months.
Watch FEE’s Hilde Blomme and Mark Vaessen highlight key elements of their discussion paper proposals on corporate reporting reforms. Then share your views about them with the FEE before 30 June.
Mickey Mantle, the UCLA Bruins, the seven seas — what do they have in common with the Public Company Accounting Oversight Board’s disclosure requirement? What three main changes should investors know?
Firms and regulators: Follow our XBRL framework principles to address implementation challenges. Analysts: Watch how structured data can be used.
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