SEC Chair Mary Jo White spoke on the importance of capital raising programs for small businesses including two recent rulings that came out of the JOBS Act, Regulation A+ and Crowdfunding. In her talk, Chair White emphasized the importance of balancing the streamlining of capital formation for smaller issuers while still maintaining strong investor protection […more]
In a speech at the 48th Annual Rocky Mountain Securities Conference in Denver, CO, SEC Commissioner Kara Stein called for the creation of a digital disclosure task force made up of investors, analysts, academics, companies, and technology experts. “We need to be thoughtful in our vision, and analytical in our implementation. Let’s make sure that […more]
As part of its ongoing process to monitor registrant compliance with the requirements to report their financial information in their eXtensible Business Reporting Language (XBRL) exhibits, staff in the SEC Division of Economic and Risk Analysis recently assessed the use of custom axis tags in XBRL exhibits that reporting companies submitted with their annual reports on […more]
The SEC announced that the EDGAR system was upgraded to Release 16.0.3 which now supports the 2016 US GAAP, 2016 COUNTRY, 2016 CURRENCY and 2016 EXCH taxonomies. The 2016 US GAAP Taxonomy is the same release that was posted by the FASB on their site on December 17, 2015. The staff noted that they encourage […more]
What are the conditions for determining when a calculation relationship is required? The Commission’s rules require filers to include calculation relationships for certain contributing line item elements for financial statements and related footnotes. Read More – http://www.sec.gov/spotlight/xbrl/staff-interps.shtml#E.27
Hear the SEC’s Mike Willis on the status of the XBRL SEC program, enhancements underway like inline XBRL, how the SEC uses XBRL data and upcoming rule proposals where structured data is under consideration.
SEC Commissioner Piwowar expressed support for inline XBRL to “improve the accuracy of structured data, ease burdens on issuers, and facilitate easier review” at FEI’s CFRI Conference, November 17, 2015.
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]
As part of the SEC’s Disclosure Effectiveness Initiative, which is a broad-based staff review of the disclosure requirements and the presentation and delivery of the disclosures, the SEC has published a Request for Comment on Regulation S-X which specifically covers “THE EFFECTIVENESS OF FINANCIAL DISCLOSURES ABOUT ENTITIES OTHER THAN THE REGISTRANT”. Pages 34 and 35 […more]
On September 25, as part of the SEC’s Disclosure Effectiveness Initiative, a broad-based staff review of the disclosure requirements and the presentation and delivery of the disclosures, the SEC published a Request for Comment on Regulation S-X which a proposal that disclosures about entities other than a registrant be made in XBRL format.
The national consortium for
the business reporting standard
