The core belief of P3 Data Systems is that much of the data that a company requires for creating documents, whether to meet regulatory compliance needs or other business reporting needs, can come from a structured database, or a structured data repository. This structured data repository includes company concepts, which in turn is linked with […more]
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.
XBRL US member volunteers are the driving force helping to set the strategic direction of the organization. All members have the opportunity to join one of the primary steering committees. Each steering committee may also establish working groups for a specific activity.
Driven by a shared mission to improve the usability of XBRL data, members of the Center for Data Quality have contributed funding and other resources to support the Data Quality Committee’s initiative to address the public’s concerns about the quality and usability of XBRL financial data filed with the SEC. The Committee is responsible for developing […more]