Here is our pick of the 3 most important XBRL news stories from the last week.
Many of us have been carefully watching the progress of the European Single Electronic Format (ESEF) mandate. ESEF, underpinned by Inline XBRL, has seen the market rapidly develop new, innovative and competitive tools for compliance to meet the needs of companies that seek to mix “Data+Design”. However, the Covid-19 pandemic has inevitably created greater burdens on companies of all sizes.
We have been waiting for this list of jurisdictions and their ESEF postponement decisions for a while, but here it is. Just one tiny corrigendum: EEA member Liechtenstein (we’ve read of it in this column last week) is missing in the list.
We’re very happy to announce that mms solutions’ report creation software tagging plus has joined the growing family of XBRL Certified Software products.
Whereas we are at risk of becoming the modern day Cato by repeating the shameful fact that there is still no XBRL implementation project in Switzerland, we note with pleasure the latest piece of report creation software originating from Switzerland.
Forget Netflix – for your Friday-night viewing turn to Finextra TV as Campbell Pryde, CEO of XBRL US, and Madhu Mathew, Director of Technology at the Sustainability Accounting Standards Board (SASB) join Richard Peers of ResponsibleRisk. They chat about the relationship between XBRL and SASB, where Environmental, Social, and Governance (ESG) reporting has come from, and where it’s going in this year of collaboration, consolidation and rapid change.
While our money is on IFRS’ Sustainability Standards Board of course, noting that the IFRS Board of Trustees has just recognised the “need for urgency to deliver global standards, most notably on climate,” we are certainly glad to see that the structured delivery of SASB reports is quickly becoming a viable option. Hopefully the user community will be just as quick at taking it up in their analytical work.
Christian Dreyer CFA is well known in Swiss Fintech circles as an expert in XBRL and financial reporting for investors.
We have a self-imposed constraint of 3 news stories each week because we serve busy senior leaders in Fintech who need just enough information to get on with their job.
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