Great article from the European Securities Market Authority on what EU public companies must do using the new Inline XBRL Global Data Standard for Better Transparency & Accountability by putting financial and non-financial financial statement info in a machine-readable format
With the recent news that the European Securities and Markets Authority (ESMA) has published a feedback statement setting out the use of Inline XBRL as the digital format which public companies in the European Union (EU) must use to report their company information to investors worldwide from January 1, 2020
According to a recent article in Accounting Today -- The XBRL data standard continues to expand globally around the world as a important tool to reduce regulatory reporting by public companies using a standard data format that can be shared across regulators in one common report
According to CERES - while almost half of the 600 largest U.S. public companies communicate with investors about environmental, social and governance issues, they could be doing a much better job of it
The question is – will the largest capital markets regulator in the world – the United States Securities and Exchange Commission support the disclosure of sustainability data by public companies and create guidance and suggestions of frameworks that can be used to assist US Investors
The accounting profession has not made the jump from paper to electronic reporting by assuring specific data elements in financial reports for example submitted to the regulator even though more than 60% of financial statement data is consumed electronically… Right now these assurance services are provided in the full audit for the public company BUT not the specific data elements submitted to the US SEC