The Committee is responsible for developing guidance and validation rules that can prevent or detect inconsistencies or errors in XBRL data filed with the SEC. Working within its Guiding Principles for Element Selection, the Committee focuses on data quality issues that adversely affect data consumption and analysis and prioritizes issues based on input from users.
Approximate Public Exposure Periods for DQC Rules and Guidance
The Committee provides an open collaborative process with stakeholders through exposure of its proposed guidance and validation rules for public comment. Members of the Committee include representatives from software providers, data aggregators, institutional investors, the accounting profession and academia. To contact the Data Quality Committee email DQC@xbrl.us.
The Committee's key activities include:
- Developing unambiguous guidance on how to tag financial data using XBRL and freely available, automated validation rules to verify compliance with its guidance and to prevent or detect tagging errors.
- Obtaining input through public exposure of its proposed guidance and validation rules for a sixty day period and incorporating the input, as appropriate, in the final approved guidance and validation rules.
- Providing progress updates to SEC staff and input to FASB staff to aid in simplifying and improving the US GAAP Taxonomy.
As Vice President – XBRL Services at Toppan Merrill, Lou Rohman has provided XBRL leadership and subject matter expertise to a wide range of client companies, working closely with individuals to enhance their understanding of XBRL and to provide the guidance needed to successfully produce, implement and confidently move forward with XBRL.
He is currently a member of both the Financial Accounting Standards Board’s US GAAP Taxonomy Advisory Group and the IFRS Foundation’s XBRL Quality Review Team. He also has been an active participant on the US GAAP taxonomy project team of XBRL US.
He has 10 years of public accounting experience, followed by leadership positions as Director of External Reporting, Sr. Finance Officer, IT Controller, and Director of Mergers and Acquisitions at leading companies.
Lou has an MBA degree with a concentration in Finance. He is a member of the American Institute of Certified Public Accountants and the Institute of Management Accountants and has an Advanced Project Management Certification from Stanford University.
Pranav Ghai is Co-Founder and CEO of Calcbench. He is an analytics professional who has built expert systems that interact with information to return actionable ideas. The majority of Mr. Ghai’s professional career has been based in financial services, with time spent at Morgan Stanley and ITG. He is also a contributing member to the Microsoft Technical Computing Customer Advisory Board. Mr. Ghai graduated with a BS from Bates College and an MS in Applied Mathematics from the Courant Institute at New York University.
Adrien Cloutier, Morningstar, Inc.
Jo Guo is the Director of Equity Data Methodology for Morningstar. A 16-year veteran of the financial industry, Jo has served in a number of capacities including auditor, data analyst, content specialist, team and project manager. She has extensive experience in designing solutions for equity data, putting together taxonomies, calculating analytics, product design, project management and being an effective bridge between the business and technology. Jo is also a member of the FASB and IFRS Taxonomy Advisory Groups, Data Coalition and has close relationships with both the US and IFRS XBRL organizations. Before joining Morningstar, Jo worked in Thomson Reuters and Ernst & Young, Singapore.
Emily Huang is the CEO and Co-Founder of idaciti. idaciti is a FinTech platform that provides curated financial & non-financial data and empowers both corporate users and investment community to create and share compelling narratives and analyses with data. Prior to co-founding idaciti, Emily has also co-founded Rivet Software in 2003 with Mike Rohan. Rivet’s disclosure management application is widely used by US filers since 2009. Emily is the inventor of 5 US software patents for XBRL data creations and consumption.
Charles Kessler is a Data Steward with S&P Global Market Intelligence who specializes in fundamental data. He is responsible for content and policy decision-making as it pertains to general fundamentals, and is a subject matter expert on the Compustat database. He monitors changes in financial reporting and its impact on data aggregation, and consequently is well-versed in U.S. GAAP and IFRS reporting standards. Charles was previously a research analyst covering the ‘Gold & Precious Metals Mining' and 'Upstream Oil & Gas' industries, so he has a strong understanding of financial reporting from that perspective.
Andreas Krohn has worked at Bloomberg for over 20 years. He has led teams of equity analysts covering fundamental data for countries in Europe, Latin and North America. He is a member of Bloomberg's Standardization Committee and sits on the FASB's Taxonomy Advisory Group.
Campbell Pryde brings significant experience in technology development, accounting and finance to XBRL US. Before taking on the President and CEO position, Mr. Pryde led the development and maintenance of taxonomies as Chief Standards Officer, playing an integral role on the executive team. Mr. Pryde joined XBRL US from Morgan Stanley, where as Executive Director in the Institutional Securities Group, he managed the equity research XBRL-based valuation framework. He has been involved with XBRL since 2001, and served as Chairman of the XBRL US Domain Steering Committee during the critical initial build of the US GAAP Taxonomy under contract with the Securities and Exchange Commission. Prior to joining Morgan Stanley, Mr. Pryde was a Partner in the Risk and Advisory Practice of KPMG LLP. He is a member of the New Zealand Institute of Chartered Accountants.
Mohini Singh is a director in the Financial Reporting Policy Group at CFA Institute. Based in Charlottesville, her responsibilities include representing membership interests regarding financial reporting proposals of the IASB, the FASB and other regulators. She drafts comment letters and position papers in collaboration with members of the Corporate Disclosure Policy Council. In addition, she serves on the International Auditing and Assurance Standards Board Consultative Advisory Group and the FASB’s Disclosure Framework Resource Group.
Most recently she served as the Global Accounting Analyst leading CFA Institute’s IFRS implementation effort. Prior to joining CFA Institute, Ms. Singh served as a Policy Advisor for the Institute of International Finance where she worked on international policy initiatives in the areas of financial reporting and audit. She was also General Manager and Financial Controller of Disha, a service organization dedicated to development programs for the underprivileged, and an audit manager at KPMG supervising audits and conducting due diligence reviews.
She is an ACA and is a member of the Institute of Chartered Accountants in England and Wales.
Amit Varshney is a Vice President in HOLT at Credit Suisse. Prior to that he was a member of Accounting & Tax Equity Research team for 8 years at Credit Suisse. Before that Amit was an IT consultant in Financial Services industry. Amit is a Chartered Financial Analyst, a Financial Risk Manager and a member of CFA Institute, NYSSA and Global Association of Risk Professionals. He holds an MS in Computer Science (Application) from IIT Delhi, India.
As FASB Chief of Taxonomy Development, Louis Matherne is responsible for all aspects of the ongoing development and maintenance of the US GAAP Financial Reporting Taxonomy in support of the annual taxonomy release as required for use by Securities and Exchange Commission registrants. Prior to joining the FASB, Louis was Director of XBRL Services at Clarity Systems where he was responsible for providing XBRL leadership and subject matter expertise to Clarity Systems’ clients as well as sales and product development teams. Prior to joining Clarity Systems, Louis was a member of the Securities and Exchange Commission’s XBRL project team that developed the US GAAP taxonomy.
Prior to joining the SEC project, Louis was a Director with the American Institute of CPAs, most recently as Director XBRL. In that capacity, Louis also served as the Founding President of XBRL International. Prior to joining the AICPA, Louis achieved more than 15 years of accounting, auditing and related experience at Grant Thornton while based in New Orleans, Philadelphia, the UK Accounting and Auditing Group in London, and ultimately landing in the US Accounting and Auditing Group in New York. Louis has been deeply involved with XBRL from its inception in 1999 and has been referred to as one of the Founding Fathers of XBRL.
Izabela Ruta is Technical Manager at the International Accounting Standards Board (IASB). She is responsible for the development of the IFRS Taxonomy, mainly from the IFRS content perspective. She is also involved in the IFRS Foundation's global outreach activities to promote understanding and adoption of IFRS Standards and the IFRS Taxonomy. Before joining Taxonomy team, Izabela worked at the IASB for 6 years on developing IFRS 17 Insurance Contracts.
Izabela holds an MSc in Management and Marketing from the University in Lodz, Poland. She also worked for KPMG Poland for 6 years, where she was supervising audit teams.