Data Quality Committee Joint Meeting with SEC Staff

1:00 PM EDT Monday, April 1, 2019
XBRL US Meeting

The XBRL US Data Quality Committee meets periodically with the staff of the SEC to discuss issues relating to the use of XBRL data. The purpose of the following highlights is to summarize the issues discussed at the meetings. These highlights do not represent official positions of the XBRL US Data Quality Committee. In addition, […more]


XBRL US CAFR Taxonomy Released with New Statements, Schedules and Footnotes

Now includes Single Audit Report schedules for municipalities and other federal grantees XBRL US announced today the public review of the third version of the demonstration Comprehensive Annual Financial Reporting (CAFR) Taxonomy, which now includes seven financial statements, two footnotes, and two schedules from the Single Audit Report. The taxonomy will be published for a […more]


XBRL US Comments on SEC Proposal: Filing Fee Disclosure & Payment Methods Modernization

XBRL US submitted a comment letter weighing in on the SEC proposal that fees and calculation tables in fee-based tables be prepared in Inline XBRL format. XBRL US supports the proposal and agrees with the Commission that structuring fee data will improve the efficiencies of the fee validation process for SEC staff, and will increase […more]


SEC Announces EDGAR Update for 2020 Taxonomies

The Securities and Exchange Commission announced that the EDGAR system would be updated to handle the following taxonomies on March 9, 2020: US GAAP 2020 Taxonomy SEC Reporting 2020 Taxonomy COUNTRY 2020 Taxonomy CURRENCY 2020 Taxonomy EXCH 2020 Taxonomy SIC 2020 Taxonomy In addition, the Commission will remove the 2012 and 2013 INVEST Taxonomies from […more]


SEC Updates Interactive Data Test Suite

The Securities and Exchange Commission (SEC) has updated their Interactive Data Test Suite, which is located at https://www.sec.gov/structureddata/osdinteractivedatatestsuite. The test suite is designed to assist filers using software to validate their XBRL filing prior to EDGAR submission. For a summary of changes, see the change log on the last page of the summary file (https://www.sec.gov/info/edgar/ednews/efmtest/efm-53.1d-200210.zip). Comments […more]


SEC Fixed Income Markets Advisory Committee (FIMSAC) Addresses Muni Transparency

The Securities and Exchange Commission’s Fixed Income Markets Advisory Committee held a meeting on February 10, 2020 including a panel on “Draft Municipal Securities Transparency Recommendation Regarding Timeliness of Municipal Issuer Disclosures”. Speakers on the panel were: Geidre Ball, Metropolitan Washington Airports Authority Emily Brock, Government Finance Officers Association Akiko Mitsui, Vanguard Hannah Sullivan, Fidelity […more]


SEC Proposes Reg S-K Modernization, Including MD&A

The Securities and Exchange Commission (SEC) announced rule amendments to modernize, simplify, and enhance certain financial disclosure requirements in Regulation S-K. The amendments include eliminating Item 301 of Regulation S-K, Selected Financial Data and Item 302 of Regulation S-K, Supplementary Financial Information to eliminate duplication. The rule also includes an amendment to Item 303 of […more]


SEC Announces Conference on Municipal Securities Disclosures

The Securities and Exchange Commission announced that they are scheduling a conference titled “Spotlight on Transparency: A Discussion of Secondary Market Municipal Securities Disclosure Practices” to be held on March 10  at SEC headquarters in Washington D.C. from 9:30 a.m. to 4 p.m. The event will be open to the public, with advance pre-registration available here. A livestream of the […more]


SEC Proposes XBRL for Resource Extraction Issuers

The SEC published a rule proposal on Disclosure of Payments by Resource Extraction Issuers.  The rule would require resource extraction issuers to include in an annual report information relating to payments made to a foreign government or the Federal Government for the purpose of the commercial development of oil, natural gas, or minerals. Section 13(q) requires these […more]


XBRL US Comments on SEC Proposal: Statistical Disclosures for Banks

XBRL US submitted a comment letter responding to the SEC proposal, Update of Statistical Disclosures for Banks and Savings and Loan Registrants. The letter noted that we strongly disagree with the proposal as stated which does not require the use of data standards for reported information that is highly financial in nature. Data reported through Guide […more]