ESMA states in its disclosed press release that it has concluded that Inline XBRL is the most suitable technology to meet the EU requirement for issuers to report their annual financial reports in a single electronic format because it enables both machine and human readability in one document
The IOSCO Growth and Emerging Markets Committee welcomes comments on the consultation report on or before 1 April 2019
According to Ceres, a quarter of dollars invested in the U.S. is now ESG investment, raising the stakes on accountable sustainability reporting to investors. Likewise, companies have increased their commitments to ESG: Ceres research shows that among that 600 largest public companies, “nearly two-thirds have commitments to reduce greenhouse gas (gHg) emissions, half are actively managing water resources and nearly half are now actively protecting the human rights of their employees by disclosing human capital data in its financial statement reports as well. Smaller companies and organizations – including government enterprises are all moving toward effective sustainability reporting to the capital markets. Importance of Diversity and Inclusion Having an active diversity and inclusion strategy and disclosing these metrics included in the financial report also builds the business case to attract an increasing number of investors looking for this additional data disclosure
Great article in Accounting Today about the status of XBRL adoption worldwide and its use to reduce business and regulatory reporting burdens (using Standard Business Reporting) and enhance analytics because tagged data is in a machine-readable structured format as discussed by John Turner, CEO of XBRL International
BUT the SPECIFIC data elements reported and consumed by the capital markets is not ASSURED by the auditor or the management accountant reporting this information to the CFO – the FULL paper report is ASSURED but not the specific DATA ELEMENT reported in the financial statement. 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. According to conversations I have had with the US SEC ... the accounting profession will need to create guidelines and protocol to offer digital reporting assurance on specific data tagged elements in the financial report. We will need to start now as we move into the future of digital reporting and assurance of data that will be required by the management accountant
Wajeeha has also been part of Strategic Planning Department and Sustainability and Social Responsibility Department, and worked on projects including the establishment of a new Islamic bank in Morocco, group wide product intelligence system, group wide sustainability reporting, and integrating United Nations' Sustainable Development Goals (SDGs) with Al Baraka Sustainable Development Goals.Wajeeha has been ranked on top 50 most influential women in Islamic Business and Finance by Cambridge IFA
06-04-2020 | 08:00 PM - 09:00 PM AT