With the rapid digitalization of the world, new changes are also occurring in accounting processes. These changes represent a major step towards more efficient and transparent accounting practices.
In 2024, the IASB (International Sustainability Standards Board) introduce two new standards.
The European Commission approved amendments to four current IFRS standards, which apply to Annual reports for the 2024 reporting period.
ESRS Taxonomy - the combination of these words is getting more and more noticeable around.
Supporting companies globally on the way to the fifth industrial revolution.
In 2023, on October 13, a breakout session of the IFRS Taxonomy Consultative Group (ITCG) was held in London, where topics on digital reporting of the primary financial report and the sustainability part of the annual report were discussed.
What is Inline XBRL? What are the IFRS and ESRS taxonomies about? Why are they so important in financial and sustainability reporting?
The Ministry of Finance of the Republic of Latvia has prepared a draft for amendments to the Law on Corporate Income Tax which has been aimed at credit institutions and consumer lending service providers.
The path of digital sustainability reporting becomes more evident as more legislative information comes to light. Although still pieces of information should be well interpreted to find practical guidance out of the regulative sea.
On July 1 of this year, amendments to the Commercial Law entered into force. The amendments were adopted by Saeima approximately a year ago - on June 16, 2022.
There is a lot of sustainability content and it's easy to get lost in it. Although the EU has created a regulatory framework - the Corporate Sustainability Reporting Directive (CSRD). It defines that ESG data should be reported in the digital iXBRL format.
Some of the financial managers can take a breath – a season of annual financial audits finally is over, and the reports have been submitted - it's time now to relax and go on vacation! But how about the obligation to submit transfer pricing documentation?
For a couple of years, the Orients Audit & Finance team has been purposefully building its competence and expertise in the field of digitalization financial and non-financial reports based on XBRL open data standard.
A binding ruling is a written document issued by the State Revenue Service (SRS) of Latvia, from which a taxpayer (natural or legal person) can find out the SRS’s opinion on applying tax and customs legislation in a specific situation.
The new Corporate Sustainability Reporting Directive (CSRD) and upcoming European Sustainability Reporting Standards (ESRS) which are planned to be approved as early as June this year, is large corporate topic today.
Orients Audit & Finance in cooperation with CoreFiling creates the first publicly available digital sustainability report in Europe.
Orients Audit & Finance is proud to announce a partnership for the Baltic and Scandinavian markets with UK based global software and services company CoreFiling.
In 2024, the IASB (International Sustainability Standards Board) introduce two new standards.
The European Commission approved amendments to four current IFRS standards, which apply to Annual reports for the 2024 reporting period.
ESRS Taxonomy - the combination of these words is getting more and more noticeable around.
Supporting companies globally on the way to the fifth industrial revolution.
In 2023, on October 13, a breakout session of the IFRS Taxonomy Consultative Group (ITCG) was held in London, where topics on digital reporting of the primary financial report and the sustainability part of the annual report were discussed.
What is Inline XBRL? What are the IFRS and ESRS taxonomies about? Why are they so important in financial and sustainability reporting?
