The mission of XBRL US, Inc. is to support the implementation of digital reporting standards for business and government through the development of taxonomies for use by U.S. public and private sectors, with a goal of interoperability between sectors, and by promoting XBRL adoption through marketplace collaboration.
Brief History
The XBRL technology standard for business information reporting was initiated in 1998 by several forward-looking accounting and technology experts who conceived of the idea of structured data for business information. The American Institute of Certified Public Accountants (AICPA) established a committee to explore the concept and provided funding to begin research and development.
XBRL is a royalty-free, open specification for software that uses data tags to describe financial information for public and private companies, governments, and other organizations. XBRL benefits all members of the financial information supply chain by utilizing a standards-based method with which users can prepare, publish in a variety of formats (e.g., XML, HTML, CSV, JSON), exchange and analyze financial statement data.
Since its start in 1998, XBRL International has grown into an global consortium which is now a separate nonprofit entity, comprised of 27 country-specific jurisdictions. XBRL US, Inc. (XBRL US), the US jurisdiction of the international organization, was a committee of the AICPA until September 2006, when it too, became a separate, nonprofit, 501c6.
In April 2008, XBRL US completed the first release of the XBRL US GAAP Taxonomy and subsequently published the 2009 Release. Maintenance and ongoing development of the XBRL US GAAP Financial Reporting Taxonomy was then taken over by the Financial Accounting Standards Board (FASB).
In 2015, as part of its focus on data quality and on supporting existing XBRL implementations, XBRL US launched the Center for Data Quality which funds the work of the Data Quality Committee (DQC). The DQC develops and publishes freely available rules for SEC filers to identify and resolve errors in their XBRL financials. A subset of the DQC rules have been incorporated by the FASB into the US GAAP Taxonomy and issuers are alerted by the SEC EDGAR System when one of the DQC rules is triggered by an error in their filing.
In 2021, the Federal Energy Regulatory Commission (FERC) began requiring public utilities and other entities that submit filings, to prepare their financial forms in XBRL format. XBRL US was involved in the development of the FERC Taxonomy used by these filers.
Staff
Campbell Pryde, President and CEO
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.
Michelle Savage, Vice President, Communications
Michelle Savage manages the education, marketing, communications and outreach efforts of XBRL US. Ms. Savage joins XBRL from PR Newswire where she focused on developing services to help companies communicate their key messages and information to shareholders and potential investors. During her tenure at PR Newswire, Ms. Savage oversaw the introduction and sales of new services to corporate and agency investor relations executives. Within the XBRL US committee of the AICPA, Ms. Savage served as the vice chair of the Steering Committee as well as the Chair of the Adoption Working Group. Ms. Savage has been intimately involved in developing strategies for XBRL adoption in the US. Previously, she held positions as an equity analyst at Shearson Lehman Hutton and a marketing executive at Pepsi Cola. Ms Savage also served on the Board of the New York chapter of the National Investor Relations Institute where she was head of Programs, Sponsorship and Treasurer.
David Tauriello, Vice President, Operations
David Tauriello manages infrastructure, logistics and administration for the organization and member activities. Prior to joining the staff, Mr. Tauriello was at the Council on Foundations, where he served as Web Director. His non-profit and association web production and management experiences also include positions with the American Speech-Language-Hearing Association and Maryland Public Television. In each of these settings, Mr. Tauriello was focused on creating and using Internet technologies to improve member service. Among his professional accomplishments, Mr. Tauriello was part of a Webby Award-winning team in 2005. Mr. Tauriello was a Fulbright Teacher Scholar Award recipient in 1999, recognized by the Japan – U. S. Education Commission.
Marc Ward, Applications Manager
Marc Ward joins XBRL US from the Council on Foundations where he served as the Application Developer. Mr. Ward worked as a network and database administrator, developer and programmer for client and web applications and has been in the IT field for 10 years. In this work at XBRL, US, Mr. Ward focuses on developing and implementing solutions that further the goals of the organization.
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