Why is the reporting of non-financial information and the management of non-financial risk becoming so important to investors?
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 both financial and non-financial information is known as "integrated reporting" by public companies. Currently the US Securities & Exchange Commission isn’t even allowing voluntary filing of non-financial data to be included with financial reports by public companies. US GAAP does not include non-financial accounting metrics
Great article from the global law firm of Baker McKenzie about mandatory requirements from securities regulators for public company sustainability disclosure that also needs to be included in financial reporting as a company “best practice.” CFOs, financial reporting teams and management accountant responsibilities are going to become much more broaden as corporate social responsibility tasks are expanded under this C-Suite
Interesting article in the UK’s Financial Director about yearend non-financial reporting required by UK companies as part of the EU mandate for 6,000 + public company requirement to report non-financial information to the capital markets and important stakeholders such as investors
The financial services committee has Congressional oversight of the US SEC, PCAOB and the accounting and auditing profession, How Can Diversity and Inclusion Support a Company’s Business Case?
Non-financial reporting, such as sustainability and CSR/ESG reporting has expanded over the last twenty years. Many US public companies now produce an annual sustainability report (independent of the annual financial report) and there are a wide array of ratings and standards around
Over the years the IMA has championed the use of XBRL as a machine-readable data format for financial reporting to promote greater transparency and accountability to support economic growth and new jobs in the capital markets
The US Securities and Exchange Commission has voted today to move forward in mandating the use of Inline XBRL for US public company financial statement disclosure
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
WHY IS GOVERNMENT FINANCIAL REPORTING USING XBRL IMPORTANT NOW?...The use of XBRL could also help federal agencies obtain audited financial opinions like public companies or small businesses