Reporting Insights 02/2023
Center for Corporate Reporting (CCR)
The member-based center of stakeholder excellence and value creation.
Do you speak XBRL?
Dear reader
Already mandatory in Europe through ESEF, still uncharted territory for most companies in Switzerland: XBRL. Not just another standard with a strange acronym – but a commitment to take seriously! A new regulation by the Federal Council that will take effect on January 1, 2024 requires a company’s climate report to be both human (PDF) and machine readable, as well as published in an internationally accepted electronic format (XBRL). After reading the following you will hold a steady course for sure!
In her report,?FH-Prof. Mag. Monika Kovarova-Simecek?analyses whether the XBRL regulatory digitisation offensive in Europe has worked or whether the initial scepticism was justified. The useful collection of links curated by?Dr. Irene Perrin?should help you familiarize yourself with machine readability and XBRL.
In the latest?interim report from the newly launched Future Lab of the Corporate Reporting Monitor?we highlight further topics and trends that are currently top of mind in the reporting community.
We wish you much inspiration while reading.
Your CCR-Team
XBRL - A Game Changer?
"They had to buy a train ticket, so to speak, without wanting to travel." This is how?FH-Prof. Mag. Monika Kovarova-Simecek?(FH St. P?lten) describes the situation with the introduction of XBRL 2020 in Europe.
Nervousness, a cautious attitude and hardly any expertise - worrying, especially since the "attitude towards XBRL is also an indicator of the understanding of digitalisation of those who are active in corporate reporting".
Have the initial concerns of reporting professionals been confirmed in the meantime or has XBRL proven its worth?
Are you a newcomer to XBRL? Read here to learn more
Do you draw a blank when it comes to XBRL? In an overview curated by?Dr. Irene Perrin, Senior Consultant at the CCR, you will find tips on where to learn more about the topic.
The?CCR Helpdesk?is always available to our members for questions regarding XBRL.
CCR-Roundtables 2023
As part of a regulatory update, XBRL will also be on the agenda at the next CCR Roundtable ?Reporting Cycle Debrief?. On March 30, 2023 we will discuss content and preparation of sustainability reports with our members as well as optimization of the related processes. The subsequent member networking dinner serves as a forum for discussions with peers and CCR experts.
领英推荐
Seats at the Roundtable "Reporting Cycle Debrief" are limited.?Places for the networking dinner can be booked separately.
?By the way: The next?CCR Roundtable on Assurance?will take place on?May 9, 2023. Our members can already register on our website.
Corporate Reporting Monitor: Future Lab Interim Report
The latest?interim report?from the recently launched?Future Lab of the Corporate Reporting Monitor?reveals that machine readability is only one of the developments in the reporting area. The interim report enables our members to address global trends and their impact on reporting in a timely manner.??
Members will be able to access the full report in the member area on our website in March.
What does the Future Lab research specifically??Prof. Dr. Christian Hoffmann explains in a short interview?(German only).
Reporting Trends 2023 & Recommendations
The latest and future trends on the reporting horizon are also the subject of ?Reporting-Trends 2023 and Recommendations?. Based on the annual discussion round with CCR experts, the report presents the most important findings and recommendations for your 2023 reporting.
The comprehensive report is accessible to CCR members in the?protected member area on our website.?
Do you have questions regarding reporting, or would you like to delve into a specific topic in the report with our experts??Contact us at the CCR Helpdesk.
About the Center for Corporate Reporting (CCR)
Enabling Stakeholder Excellence and Value Creation
Strategically anchored reporting strengthens the trust of stakeholders in the company as well as its value creation and contributes to its long-term success. Working in sync with our international network of experts, we empower our members to enhance the quality of their reporting. We offer high-profile events, practice-relevant publications, and tailored consulting. Corporate members benefit from ongoing knowledge transfer through trend classification, analyses, coaching, workshops, and peer-to-peer learning - pragmatic, action-oriented and specific at all times.
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