Here are the three most relevant developments in the world of structured reporting we became aware of in the course of last week.
1 New era for Australian data collection as APRA connect goes live
Congratulations to the Australian Prudential Regulation Authority! On 13 September, its new data collection portal, APRA Connect, went live. Replacing the old software-based Direct to APRA (D2A) system, this Is a web-based platform allowing regulated entities to securely connect and manage all communications with APRA (and fully supporting XBRL-based reporting).
Yet another country with regulatory project for the XBRL palmares!
2 Added value for XBRL software certification: taxonomy and report package capabilities
We are delighted to announce the addition of a valuable feature to the XBRL Software Certification programme, which has been expanded to include the Taxonomy Package and Report Package formats. Essentially, this means that the certification process will not only confirm that software is able to correctly create and validate XBRL reports according to the appropriate specifications, but also that these reports and any accompanying extension taxonomies are properly packaged. This ensures that they can be opened reliably in other XBRL software.
Given the black-boxiness of XBRL software for most users, certification is very important to assure a piece of software’s quality.
3 EFRAG releases working paper on climate reporting standards
It is still relatively early days, but do you want to know more about the thinking thus far as the European Financial Reporting Advisory Group works toward shared sustainability standards? Its Project Task Force on European sustainability reporting standards (PTF-ESRS) recently discussed and released a working paper titled ‘Climate standard prototype,’ prepared by its relevant subgroup.
Some heavy weekend reading for those of us interested in climate reporting. The IFRS Foundation’s team will be watching, too …
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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