XBRL News from Israel, EIOPA and Switzerland - International Money Transfers Blog

Here are the three most relevant developments in the world of structured reporting we became aware of in the course of last week.

1 Software vendors needed as Israel adopts inline XBRL

As the Israel Securities Authority (ISA) transitions to Inline XBRL (also known as iXBRL) for financial reporting, it is now seeking software companies interested in operating in Israel. The ISA has enabled Inline XBRL submissions on a voluntary basis, and recently issued a call encouraging companies to take the opportunity to implement the new format now, using it in their annual reports for 2021.

The voluntary nature of inline XBRL reporting will hopefully soon give way to mandatory … vendors, advance!

2 EIOPA consults on pensions reporting and emphasises digital alignment

The European Insurance and Occupational Pensions Authority (EIOPA) has launched a public consultation on changes to its regular information requests to national competent authorities (NCAs) for occupational pension information. It seeks to improve reporting by pensions schemes – which it dubs Institutions for Occupational Retirement Provisions, or IORPs – on emerging risks and challenges.

Interesting to monitor progress in this naturally rather conservative space.

3 Mandatory climate reporting in Switzerland

The Swiss government has started the consultation on introducing mandatory climate reporting for large Swiss firms. In line with emerging global and European standards (ISSB & EFRAG), human and machine readable structured data (i.e. XBRL) will play a key role in this novel reporting domain.

Check out this panel discussion & networking event hosted by XBRL Switzerland on 7 June. Register today to attend if you’re in the neighbourhood.

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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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