XBRL News regarding data amplification with a view to being digitally sustainable from the start, even for banks

Here is our pick of the 3 most important XBRL news stories from the last week. 

1 Data Amplified virtual

Hear from leaders in digital reporting as digitisation accelerates around the world. Discover new standards, new techniques and best practices to take control of business reporting. Bridge lockdown and make new connections with peers that will drive your innovation. Connect with global experts to answer your questions, with open dialogue and discussion. Get ahead of the curve at this best in class virtual event

This year’s Data Amplified virtual conference 14-16 April is the reference digital reporting event hosted by XBRL International. If you read these lines, then there’s absolutely no reason whatsoever not to jump over and sign up right away – it’s free.

2 Digital from the outset – EU sustainability standards

The European Financial Reporting Advisory Group (EFRAG) has published two milestone reports. They set out recommendations to the European Commission (EC) on the development of EU sustainability reporting standards and on changes to EFRAG’s governance and funding if it were to expand its remit to non-financial standards.

The news domain of sustainability reporting is heating up every day. The two EFRAG reports this piece refers to are milestones on Europe’s way to lead the world towards a sustainable future by way of creating the information framework that enables the required investments. Do not read at your own peril.

3 EBA launches discussion paper on integrated reporting

The European Banking Authority (EBA) published today a discussion paper on the feasibility study of an integrated reporting system to collect feedback for the preparation of its final Report in this area. The discussion paper outlines possible options around the main building blocks of a possible integrated system including a single data dictionary and single reporting system across supervisory, resolution and central bank statistical data. The consultation runs until 11 June 2021.

This discussion paper provides valuable insights into the future direction of European supervisory reporting for the banking industry.

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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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