Why XBRL Tagging Is Crucial for Corporate Transparency: Insights from TISCreport

Published on: 9 December 2024

iXBRL tiscreport transparency
The UK Government’s Corporate Transparency and Register Reform White Paper (2022) and the subsequent Economic Crime and Corporate Transparency Act 2023 have set the stage for transformative reforms at Companies House. Central to these changes is the mandatory adoption of iXBRL (Inline Extensible Business Reporting Language) for financial reporting, expected to become compulsory by Q1 2025. These developments promise to modernise corporate reporting, combat economic crime, and enhance transparency. However, as TISCreport’s experience with voluntarily shared iXBRL data reveals, the quality of tagging is critical to realising the full potential of these reforms.
Investor-Focused ESG: Aligning Strategies for Sustainable Outcomes

Published on: 3 December 2024

Investor-Focused ESG: Aligning Strategies for Sustainable Outcomes
In today’s rapidly evolving business landscape, Environmental, Social, and Governance (ESG) strategies have become critical for organisations aiming to thrive. Far from being just a "sustainability" buzzword, ESG encapsulates a holistic approach to corporate responsibility, governance, and ethical practices. This article explores the intricacies of ESG, demystifying its impact on businesses, the role of data, and practical steps companies can take to align with evolving investor demands while driving meaningful change.
Government Tightens Prompt Payment Requirements for Suppliers

Published on: 14 November 2024

Government Tightens Prompt Payment Requirements for Suppliers
In a significant move announced at the Autumn Statement 2024, the UK Government is taking steps to address a longstanding issue impacting small and medium-sized enterprises (SMEs): late payments. Starting from 1 October 2025, the average invoice payment days threshold for Government suppliers will be reduced from 55 days to 45 days. This policy adjustment aims to unlock £20 billion tied up in unpaid invoices and support improved cash flow for SMEs across the UK.
Role of Digitalisation in Driving Sustainable Supply Chains

Published on: 11 November 2024

The Role of Digitalisation in Driving Sustainable Supply Chains
As global supply chains become increasingly complex, the demand for transparency and sustainability is greater than ever, particularly in the least developed countries (LDCs). Digitalisation is emerging as a powerful tool to address these demands, enabling businesses to enhance efficiency, reduce waste, and contribute to economic, social, and environmental sustainability.
Unlocking Public Procurement Opportunities for SMEs: How Transparency Reporting Can Help

Published on: 4 November 2024

Unlocking Public Procurement Opportunities for SMEs: How Transparency Reporting Can Help
As the UK government works to increase public sector procurement from small and medium-sized enterprises (SMEs), recent figures show that progress has been slow. In 2023, only 20% of total direct public sector procurement spending went to SMEs, despite government pledges to prioritise smaller businesses. Barriers such as complex processes, high bid costs, and procurement frameworks have made it challenging for SMEs to compete effectively with larger suppliers.

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