Last Updated on Thursday, 9 May, 2024 at 1:22 pm by Andre Camilleri
XBRL, the open international standard for digital business reporting, has chosen Malta for its 32nd Europe Days International Conference due on 23 and 24 May at the Phoenicia Hotel. The conference is being supported by FinanceMalta with Malta’s Eunoia Limited, a member of XBRL Europe and FinanceMalta, as event gold sponsor.
XBRL is used around the world for financial and non-financial reporting in more than 50 countries. It is also a fundamental tool in the provision of ESG disclosures. Particularly, the EU’s Corporate Sustainability Reporting Directive (CSRD), makes XBRL reporting mandatory, to provide investors and stakeholders with more meaningful and comparable information. The CSRD was unveiled as part of a sustainable finance package aimed at promoting sustainable practices.
“As new regulations, frameworks, and international standards emerge, technological solutions will need to increase efficiencies while enabling organisations to futureproof their reporting. In an industry where skills are at a premium, digital innovation can help firms process vast amounts of financial data in an automated manner, freeing human resources to interpret the data instead of being occupied with data collection and manual analysis. This can enhance the value added of businesses, and in turn, of our jurisdiction,” says Graziella Grech, Chief Operations Officer of FinanceMalta, who will deliver the welcome speech to the XBRL delegation on the first day.
“We are proud to support XBRL at this international event, whose business reporting technologies today present a process designed to promote consensus, fairness, public accountability, and quality and are adopted by regulators, regulated companies, governments, and large and medium-sized enterprises,” added Ms Grech.
The conference will address regulatory reporting for banking, reporting evolutions in the insurance sector, integrated reporting plans, upcoming reporting frameworks, taxonomy design and ESEF-ESG reporting.
One of the keynote speakers at this event will be Vlad Kalashnikov, Senior Product Manager at Eunoia Limited, a startup company founded in Malta in 2017 to deliver focused data and analytics solutions, and Malta’s only member of XBRL Europe.
With a deep understanding of XBRL and regulatory compliance requirements, Mr Kalashnikov will be addressing the topic “Transforming ESG Compliance: The AI and XBRL Synergy”, drawing from his experience in advancing the software’s ability to produce accurate XBRL outputs and his support to several listed companies in their ESEF and UKSEF submission.
For more information and registration, visit https://www.xbrleurope.org/
