Point of View

SEC Can Look to States for Municipal Finance Standardization Ideas
Marc Joffe, Senior Policy Analyst, The Cato Institute

The FDTA promise to provide municipal bond investors with standardized data of counties, cities and special districts that issue debt securities. Local governments in 18 states are already providing fielded financial statement data.

Data Standards and the Financial Data Transparency Act (FDTA)

Implementing the right data standard, as called for in the FDTA, will enable economies of scale, reduce the cost of reporting, data collection and analysis, and generate good quality, actionable data for policy-setters, regulators, and the public, including investors, and researchers.

Data Amplified 2023

Attend the XBRL International Conference that brings together standards setters, regulators, policy makers, analysts, tech experts, accounting professionals, and other innovators from across the reporting community to share insights into the future of digital reporting. Themes will include sustainability reporting, AI, data quality, audit and more.

Membership

Public company accountants, financial service professionals, data providers, technologists, federal regulators and a growing number of industry groups view XBRL as an important component of transparency in the markets. These organizations support the business reporting standard by collaborating on XBRL US initiatives with other like-minded organizations and individuals. Learn about membership options for individuals and organizations and get started today.