XBRL US opposes H.R. 5054 & presents findings from new study showing 41% decline in XBRL costs to small public companies in letter to House Financial Services Committee.
XBRL US strongly opposes HR 5054, a proposal to exempt small companies from XBRL filing, in a letter delivered to the members of the U.S. House Financial Services Committee Subcommittee on Capital Markets, Securities and Investments.
XBRL US comment letter supports the use of standards for Industry Guide 3 disclosures by bank holding companies as outlined in SEC proposal.
The XBRL US Data Quality Committee responded to FASB’s Invitation to Comment on Efficiency and Effectiveness of GAAP Financial Reporting Taxonomy.
XBRL US position paper published “Reduce Company Burden, Cut Government Spending – Standardize Financial Data Reporting Requirements” which recommends adopting the freely available, open XBRL data standard for all financial data reporting required by U.S. regulators. Only the XBRL standard has 1) the appropriate format to render data computer-readable; 2) the appropriate information component to […more]
XBRL US submits comment letter supporting the SEC proposal on transitioning operating companies and mutual funds to Inline XBRL and provides feedback on challenges that should be considered when setting timing for the start date of the proposal.
XBRL US strongly opposes Section 411 of Subsection C of Title IV in the Financial CHOICE Act, a provision to exempt small companies from XBRL filing and which will have significant negative repercussions on both Wall Street and Main Street. Read the XBRL US argument on Section 411 in a letter to the House Financial Services Committee.
Read a recent California Society of CPAs blog article authored by XBRL US CEO Campbell Pryde on the importance of ensuring good quality in XBRL financials. http://blog.calcpa.org/how-important-are-your-xbrl-financials