The freely-available rules and guidance developed by an industry coallaborative help public companies detect inconsistencies or errors in their XBRL-formatted financial data. Several tools are certified for implementation of the approved rules.
Issuers encouraged to use the rules to identify and resolve data quality errors in financials XBRL US announced that it had published the second set of approved rules and guidance developed by the Data Quality Committee (DQC), which are now freely available for issuers to use to identify and correct errors in their filings. The […more]
XBRL US announced the start of its third public exposure period for guidance and rules developed by the Data Quality Committee (DQC), which is funded through the Center for Data Quality. The Committee is responsible for developing guidance and validation rules that can prevent or detect inconsistencies or errors in XBRL data filed with the SEC and focuses on data quality issues that adversely affect data analysis.
The XBRL US Data Quality Committee reports that by using its first set of validation rules, filers reduced the number of errors in their filings for the data covered by those rules by 64%, Q1 2016 versus Q1 2015.
Where an XBRL filing is concerned, have you ever…. Failed to recognize negated tags in your filing? Been unsure when to negate a tag? Wondered if you were managing these tags correctly? Noticed calculation inconsistencies in your filing, but were unable to identify what went wrong? If you answered yes to even one of these […more]
You’re no stranger to XBRL and all that it often implies: confusion, stress and skepticism. For the past 8 years, many companies have struggled through the tangled web of compliant XBRL filing. While some of these original challenges were overcome and paved the way for smoother filing, new complications are cropping up quickly and require […more]