Here’s an excerpt: “Currently, disclosure of sustainability information under SEC rules is being addressed by a combination of our materiality-based approach to disclosure, guidance on certain issues,[55] and shareholder engagement on a range of sustainability topics, whether through direct dialogue with management or our Rule 14a-8 shareholder proposal process. Although we are seeing increased disclosure and engagement on sustainability matters, we are taking a more focused look at such disclosures, particularly related to climate change, in our annual filings reviews
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...
Just came back from an accounting conference in London about the United Nation’s Sustainability Development Goals. Management accountants are going to hear more about this global effort and their involvement as this moves toward global adoption in the capital markets and by governments...
The new rules aim to contribute to the long-term sustainability of EU companies, to enhance the efficiency of the relationship of intermediaries and to encourage long-term shareholder engagement. The main purpose of this long-term sustainability definition is to explain how the public company is serving the public interest in the long term with more effective stakeholder engagement -- to facilitate its “public license to operate” in the best interests of both investors and the people in the various communities it serves
Interesting article … Largest democratic country in the world (India) is pushing the largest capital markets country in the world (USA) to have public companies disclose not only financial information but non-financial information to better serve both investors and the public. Including...
Great article about UK’s new narrative reporting framework for listed companies, banks and insurance enterprises with more than 500 employees that went into effect for financial reporting periods on or after January 1, 2017 . Companies, banks and insurance enterprises will be required...
D&I reports should include metrics to demonstrate progress toward short- and long-term goals. Make Community Engagement Part of Your D&I Initiatives While not articulated in the standards, entities might also consider their community investment initiatives that benefit minority-led and minority-serving charitable organizations
Great article in Fed Scoop about new legislation being introduced in Congress that would take the XBRL global data standard -- created by the accounting profession -- and build-out across all federal financial agencies for better transparency and accountability. Using the machine-readable,...
The article describes nonfinancial information to include performance indicators related to customer satisfaction, employee engagement, brand loyalty, market share, and pipeline throughput
Interesting debate yesterday before the US Senate Banking Committee on the topic of expanding disclosures of US companies to include environmental, social and governance data besides just financial disclosures. The US House Committee on Financial Services held a hearing on the same topic last...