Here are the three most relevant developments in the world of structured reporting we became aware of in the course of last week.
1 Workiva announces Q3 financial results
“Workiva delivered another strong quarter, beating third quarter guidance for revenue and operating results,” said Marty Vanderploeg, Chief Executive Officer. “We achieved 30.4% organic growth in subscription & support revenue, and 27.9% in total revenue.”
While the higher than expected expansion will certainly be appreciated when markets open, Workiva is still no closer to satisfying the rule of 40 (still hovering at 21). Note that the author has a commercial interest.
2 European common enforcement priorities for 2021 annual financial reports
The European Securities and Markets Authority (ESMA) issues its annual Public Statement setting out the European common enforcement priorities for the 2021 annual financial reports of listed companies. ESMA, together with national enforcers, will pay particular attention to these areas when monitoring and assessing the application of the relevant reporting requirements.
ESMA’s statement is of particular interest this year because it contains a reminder of the ESEF mandate, which the bug has delayed in most European countries. No such excuse for 2021 reporting …
3 IFRS Foundation announces International Sustainability Standards Board …
As world leaders meet in Glasgow for COP26, the UN global summit to address the critical and urgent issue of climate change, the IFRS Foundation Trustees (Trustees) announce three significant developments to provide the global financial markets with high-quality disclosures on climate and other sustainability issues:
Big news from COP26! Not just was the formation of ISSB announced, with HQs in Frankfurt and Montréal (that much was expected), but also do we get a consolidation with CSDB and VRF (which has been the product of a recent merger) AND a prototype. Yay!
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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.
For context on XBRL please read this introduction to our XBRL Week in 2016 and read articles tagged XBRL in our archives.
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Source: https://dailyfintech.com/2021/11/04/xbrl-news-from-workiva-esma-and-the-issb/
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