Bank of Russia Implements XBRL for SMEs

Online media portal Russia Today is reporting that the Bank of Russia is planning on simplifying procedures for the issuance of securities by SMEs, including the introduction of XBRL. The intention is to improve the bond market by cutting costs and improving the flow of information to investors. They also plans legislation changes to improve overall handling of debt with an eye towards reducing reliance on banks as a source of funding for SMEs.

More regulators are seizing on the opportunity presented by using structured data and the resulting transparency to meet strategic aims like promoting economic growth, transforming capital markets or improving government performance. This is a trend we expect to see more of and to make its way down into the enterprise as well. 

(source: XBRL International Newsletter)

Share Your Experiences with Entity Specific Disclosures

The Entity Specific Disclosures Task Force has recently heard some very useful and interesting updates regarding how different countries tackle entity specific disclosures using a variety of techniques, including extension taxonomies and other approaches. Entity specific disclosures are information that an organisation needs to report, and which is not covered by relevant public XBRL taxonomy. These can be addressed by having the entity provide its own taxonomy, known as an extension taxonomy.

The task force has so far heard examples for the US, the UK and Denmark. If you are familiar with how other projects around the world have tackled the challenge of entity-specific disclosures, the task force would be very interested in hearing from you. Please contact ESDTF chairs Andomeda Wood and Louis Matherne at esdtf-feedback@xbrl.org.

FinTech Forum - Smart Contracts, Blockchain & Data Standards

Join the Robert Zicklin Center for Corporate Integrity and XBRL US for this half-day forum in New York City on smart contracts, blockchain and data standards. Attendees will learn about the fundamentals of blockchain and smart contracts; discover alternative uses for the technology; observe demonstrations utilizing the technology; gain insight into the market for blockchain companies. This program is offered through a sponsorship with CFA Institute.

1:15 PM ET Monday, April 4, 2016 (6 hours)

XBRL US Meeting hosted by Baruch College || Newman Conference Center || Complimentary pre-Registration Required

Program and Registration

XBRL INTERNATIONAL CONFERENCE 2016

The XBRL International Conference for 2016 will be held in Singapore on November 8 - 10. Several new technologies and trends will be the focus of discussion, including the XBRL implications of the emerging blockchain and distributed ledger technologies.

Reserve the date now!