Here are the three most relevant developments in the world of structured reporting we became aware of in the course of last week.
The Reserve Bank of India (RBI) has published the final report of its Regulations Review Authority (RRA) 2.0, established in 2021 to streamline reporting requirements and reduce regulatory burdens. It has made a number of recommendations on the consolidation of existing forms and the elimination of paper-based reporting. They also suggest a periodic review process.
Interesting to see how the central bank of the world’s largest country by population is using XBRL.
The US Financial Accounting Standards Board (FASB) has released its 2021 Agenda Consultation Report. It has added three new projects to its technical agenda, on Accounting for and Disclosure of Digital Assets, Accounting for Environmental Credit Programs, and Accounting for and Disclosure of Software Costs.
The digital assets project is of particular interest because the IASB has explicitly decided against including that in its work plan. An opportunity for the FASB to get a conceptual headstart?
Christian Dreyer CFA is well known in Swiss Fintech circles as an expert in XBRL and financial reporting for investors.
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