Ireland has just kick started its mandated iXBRL program – second largest iXBRL program in the world. Here is the project overview for a better understanding.

Since April 2011, legislation has been in place in the UK that requires the vast majority of companies to submit their corporation tax returns and accompanying financial statements in iXBRL format to HMRC.

The UK regulator – Prudential Regulatory Authority (PRA) – has concerns that the build-up of offshore reinsurance by undertakings can become a major issue when unconstrained. In fact, they believe the stock build-up of offshore reinsurance is an unintended consequence, and that it might become a significant prudential concern when not restrained.

Thе CIPC (Cоmраnіеѕ аnd Intellectual Prореrtу Cоmmіѕѕіоn) of South Africa has еmbrасеd thе uѕе оf XBRL, the international data standard for financial information, whеn it requires companies to submit their Annuаl Fіnаnсіаl Stаtеmеntѕ (AFS).

Social Justice Ireland (SJI) has suggested that Ireland needs additional tax revenue. They proposed that the Irish government should aim to add about £3 billion to tax revenue each year. Their reason is to ensure a fairer and more equal future for the Irish.

As European financial markets come to terms with the outcome of the UK referendum, Brexit has severe implications for the Markets in Financial Instruments Directive (MiFID). MiFID II/R is the cornerstone of EU's regulation of financial markets.