The XBRL US Data Quality Committee has published version 3 of guidance and validation rules to help public companies detect inconsistencies or errors in their XBRL-formatted financial data. The freely available rules are available through XBRL service providers whose tool has been approved by the XBRL US Center for Data Quality.
Join this informative discussion with Howard Kaplan from the SEC’s Division of Enforcement, and learn how the SEC uses XBRL-formatted financials in its day-to-day activities.
XBRL US and ConsenSys, a blockchain technology company, announced the formation of a working group to develop standards for tokenization of assets on the blockchain. A token is a digital representation of an asset, e.g., debt, equity, cash or a physical asset (i.e. a vehicle or a piece of artwork).
David Tauriello, VP Operations, XBRL US
Formats are sometimes mistaken as financial data standards. The danger is that a format is simply a means to exchange numbers that have no embedded meaning. More than a format, the XBRL financial data standard is designed to capture the characteristics of financial information.
The accounting profession, data providers, public companies, technologists, federal regulators and a growing number of industry groups view XBRL as part of the shared vision for transparency in the markets. These organizations support the XBRL standard by collaborating on XBRL US initiatives with other like-minded organizations and individuals. Get started with XBRL US today.