Participate in this free, half-day workshop on developing successful data standards programs for government agency representatives.
Data standards improve the efficiency of regulatory data collection and analysis. They enable automation, and improve information consistency, quality, and timeliness. This event provides a practical, hands-on introduction to building a successful, results-oriented standards program. Topics covered include designing and structuring a taxonomy to organize the data to be reported, plus a step by step guide to developing the standards and supporting materials, governance, tools and resources (both open source and commercial). Examples will be used throughout the discussion and real-world case studies from the FDIC and the FASB will be presented to illustrate best practices to take and pitfalls to avoid.
Program managers, accounting staff, and analysts from government agencies should attend.
This event is free to government employees but space is limited and registration is required.
| Preliminary Agenda | |
| 8:15 – 8:45 AM | Registration |
| 8:45 – 9:00 AM | Introductory Remarks
Speakers: Christian Hoehner, Senior Director of Policy, Data Coalition Campbell Pryde, President and CEO, XBRL US |
| 9:00 – 9:20 AM | Organizing Data
Understanding the regulatory data to be standardized, how it is prepared, and how it will be used, is a critical first step before developing a standards program. This session provides an in-depth look at methods to consistently capture and systemically structure data of all kinds, including text, financial, boolean, integer, dimensional and more. Data types, units, scale, period types and other features of individual facts will be addressed. Types of identifiers, from the Legal Entity Identifier (LEI), will also be covered. |
| 9:20 – 10:00 AM | Standards and Formats
Effective data standards communicate, automate, and improve the quality of reported information. This opening session will review the multiple layers of the XBRL financial data standards, and how they can consistently capture metadata and identifiers. XML, CSV, HTML, and JSON formats and their intersection with XBRL will be discussed. This session will also address what standards are not, and other aspects of standards that regulators should consider, such as proprietary versus non-proprietary, open versus closed. |
| 10:00 – 10:45 AM | Practical Steps to Building a Taxonomy and Supporting Documents
Walk through the process for building a good quality taxonomy that your constituents can use to product good quality data. Steps in the process include determining the scope, building a plan, engaging subject matter experts, determining the appropriate taxonomy structure, identifying use cases, testing the taxonomy, engaging software providers, preparing supporting documents, conducting stakeholder review and public review, finalizing support and maintenance, and getting taxonomy certification. |
| 10:45 – 11:00 AM | Break |
| 11:00 – 11:10 AM | Validation
Error checking and resolution can be performed by reporting entities as they are preparing their materials for regulatory disclosure; and by the regulator when documents or data are received. This session will briefly explain what’s available, how it is used, and what you can leverage. |
| 11:10 – 11:20 AM | Getting the Right Tools
Various open source and commercially available tools are available to help regulators design, build and implement a standards program. This session will review taxonomy creation tools, viewing tools for public review, instance document creation and validation tools. Instructors will demonstrate how to use commonly used business tools such as Google Sheets and Excel to support your process. |
| 11:20 – 12:00 PM | Case Studies in Regulatory Taxonomies
Every standards implementation has unique features – different stakeholders, different data to report. But there are certain commonalities and lessons to be learned about what worked, and what didn’t. This session will feature examples of successful standards programs in the United States. Hear from the leads on these programs about the problem the standards were intended to solve, the solution put in place, initial results, and how the program has evolved over the years. Speakers: J. Louis Matherne, Chief of Technology Development, Financial Accounting Standards Board (FASB) Mark Montoya, Senior Business Analyst, Federal Deposit Insurance Corporation (FDIC) |
