January 27th, 2010 by Stewart McKie - Executive Advisor
When I saw the SEC Climate Portal on a Google search results page, I mistakenly thought this was the US S.E.C.’s rather than the Singapore Environment Council’s climate change portal. But I wonder how long it will be before we do see an S.E.C. climate portal? Given the increasing interest in the potential impact of climate change on businesses worldwide and item 2 on the agenda for ‘The Sunshine Act’ meeting on Jan. 27, 2010:
Item 2: The Commission will consider a recommendation to publish an interpretive release to provide guidance to public companies regarding the Commission’s current disclosure requirements concerning matters relating to climate change. Read the rest of this entry »
Tags: climate change
Posted in Taxonomies, XBRL | 1 Comment »
January 26th, 2010 by Stewart McKie - Executive Advisor
In a recent post It is NOT different this time, and XBRL will not avoid the coming crisis, author Daniel Roberts quotes Dennis Santiago, CEO of Institutional Risk Analytics, as saying: “bottom line is that as long as people are allowed to create opacity on purpose in finance these problems will resurface from time to time.” Something that strikes me as worth reflecting on. Read the rest of this entry »
Tags: transparency
Posted in Taxonomies, XBRL | 1 Comment »
January 11th, 2010 by Stewart McKie - Executive Advisor
If you are a newly hired financial reporting specialist at Megacorp Inc. you might soon feel that you’re on a production line, a constantly cranking supply chain responding to a never ending demand chain. One way to avoid this ‘Model T’ effect is to build an hour or so into your week/month to apply the taxonomy of reflection, a useful model recently proposed by Peter Pappas, who is clearly a reflective practitioner himself. Read the rest of this entry »
Posted in Taxonomies | 4 Comments »
December 11th, 2009 by Emily Huang - Co-founder & VP, Business Technology
On December 10th, the SEC announced the release of a draft 2010 Risk/Return taxonomy and some sample instance documents with the “rendered” reports for public review.
The 2010 Mutual Fund Risk/Return Summary Taxonomy has been developed as an update to the 2008 Mutual Fund Risk/Return Summary Taxonomy. The updates provided in this release have been developed primarily to Read the rest of this entry »
Tags: instance document, Mutual Fund, Risk/Return, Taxonomy
Posted in Mutual Fund, Taxonomies, XBRL | No Comments »
November 10th, 2009 by Stewart McKie - Executive Advisor
The Open Compliance and Ethics Group (OCEG) is focused on the enhancement of corporate cultural integrity via the integration of Governance, Risk Management and Compliance processes. The group publishes many useful resources including the Red and Burgundy books for assessing GRC capability and evaluating GRC processes. So what’s that got to do with XBRL? Read the rest of this entry »
Tags: GRC
Posted in Taxonomies, XBRL | No Comments »
October 20th, 2009 by Stewart McKie - Executive Advisor
The S.E.C recently updated its staff observations from their initial review of XBRL filings here. Read the rest of this entry »
Tags: SEC
Posted in Compliance, Taxonomies, XBRL | No Comments »
September 18th, 2009 by Stewart McKie - Executive Advisor
It’s not often that a financial reporting tool can both blow your dress up and knock your socks off, but apparently our Crossfire solution can. Or at least it did for long-time FRx consultant Jan Harrigan CPA, blogging at FRxbuzz.com – a site focused on the popular Microsoft FRx financial report writer.
Now I should say that this post is not going to go into any more detail about Jan’s clothing being disheveled. These Texas gals can be a touch feisty. Instead I want to focus on another part of Jan’s post – namely – I don’t want to build it up too much but this is the future. (her italics). Read the rest of this entry »
Tags: FRx
Posted in Communication, Solutions, Taxonomies | No Comments »
September 7th, 2009 by Stewart McKie - Executive Advisor
Much of the promise of XBRL for comparative reporting – especially in a global context – depends on taxonomy standardization across national boundaries. But as this post on standards and standard-setters from AccountingWEB points out, perhaps the focal issue now is less what should be standardized but who will be in charge of the standardization. Read the rest of this entry »
Posted in Communication, Taxonomies, XBRL | No Comments »
August 30th, 2009 by Stewart McKie - Executive Advisor
It’s easy to forget that not everyone is completely focused on monetary gain when they invest in a business – an increasing number of individual and institutional “philanthropic” investors also care about the social returns generated by a business. Read the rest of this entry »
Tags: IRIS, XBRL
Posted in Projects, Taxonomies | No Comments »
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