UK Digital Reporting Forum - 6 December 2018
Regulations, expectations and technology are driving an acceleration in the digitisation of corporate reporting across Europe. This half day event provides an opportunity for preparers and other stakeholders to learn about what to expect from changes to European regulation and what companies and others might learn in their own digital reporting transition.
Slides for the event are available here.
Programme of activities
- 9:30am to 9:40am - “Introduction and welcome” – Philip Fitz-Gerald, Director of the Financial Reporting Lab at the FRC.
- 9:40am to 10:00am - “Structured data basics/XBRL 101” – Jon Rowden, iXBRL Services Leader at PwC, will take us through the basics of structured data and XBRL, covering some of the history, uses and developments.
- 10:00am to 10:20am - “Regulation, why, where, what and when?” – Jennifer Guest, Project Director at the FRC, will talk about the European Single Electronic Format requirements, their current status and the scope of the regulations.
- 10:20am to 10:45am - Panel 1 “Current state of reporting in the UK and looking forward” - Our first panel will provide a response from the point of view of preparers (Roy Tooley, Head of Corporate and Board Secretariat at Aviva PLC), investors (Alison Thomas, Consultant), and communications (Sallie Pilot, Director – Chief Engagement and Insight Officer at Black Sun). They will explore some of the key themes in digital reporting, and highlight some of the questions, concerns and opportunities arising from the move towards structured data in annual reports.
- 11:00am to 11:45am - Panel 2 “What can we learn from international developments” – In our second panel session we will hear four different perspectives on how XBRL is being used and developed for reporting across the world, and the lessons we can learn. The panel features John Turner, CEO at XBRL International Inc , Andie Wood, Senior Director of Data Modelling at Workiva Inc., Marshall Matthews, Senior Manager – Corporate Reporting Services, iXBRL Accounts at KPMG and Chie Mitsui, Data Analyst at Nomura Research Institute.
- 11:45am to 11:55am - “What would be useful?” – Phil Fitz-Gerald and Thomas Toomse-Smith (FRC) will then open the floor for questions and thoughts on future activities supporting developments in digital reporting.
- 11:55 to 12:00 - “Next Steps” – Phil Fitz-Gerald will close the session and summarise next steps.
If you are attending via livestream and would like to pose questions please email them to firstname.lastname@example.org
Financial Reporting Lab < reporting NOW > Conference
The Lab held its annual conference on Thursday 21st June 2018
The conference was opened by Sir Win Bischoff, Chairman of the Financial Reporting Council. Sir Win highlighted the unique nature of Lab in encouraging good reporting by companies by finding practical, market-led solutions. In the first conference session, we revisited two of the Lab’s past reports, 'Business model reporting' and 'Risk and viability reporting', and we presented our first report on the performance metrics project, which was released to coincide with the Lab conference.
The topic for the first panel session was ‘Reporting Past’, and this session was moderated by Thomas Toomse-Smith (Project Director, Financial Reporting Lab), with the following panel members:
- Susan Swabey (Company Secretary, Smith and Nephew)
- Andrew Tusa (Managing Director Corporate Broking, Barclays)
- Freddie Woolfe (Head of Responsible Investment and Stewardship, Old Mutual Global Investors).
The second panel was moderated by Sallie Pilot (Director, Black Sun) and focussed on the ‘Reporting Future’. The panellists were:
- Stephanie Maier (Director, Responsible Investment, HSBC Global Asset Management)
- Douglas Radcliffe (Group Investor Relations Director, Lloyds Banking Group)
- Ben Yeoh (Senior Portfolio Manager, RBC Global Asset Management)
Finally, we heard from Thomas Toomse-Smith, who provided an update on the Lab's Digital Future project, including a summary of the Lab's recent report on blockchain.
Here is a full recording of the conference, along with the slides and a summary.