Here are some key takeaways from the article:
Digital reporting regulations continue to expand
Over the next few years most international regulations (including the Corporate Sustainability Reporting Directive) are moving corporate reporting to the digital-first XHTML format, with XBRL tagging. Although this will eventually be transformative, it’s currently very basic. This presents challenges for companies, not least in knowing what future digital reporting should look like.
The FRC supports new digital-first practices
The FRC has set out clear guidance on best practice in digital reporting: responsive, interactive, user friendly, accessible, with high quality easy-to-use XBRL tagging. This guidance creates many opportunities for companies to enhance their reporting by embracing digital-first solutions.
Rapidly developing technology is driving transformation
Advances in new reporting software are creating opportunities for digital transformation. The best systems will enable reporters to publish single source content simultaneously across multiple formats (PDF, print, online and filings) and include easy-to-use tagging for anyone to view online.
You can read the full article here.
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