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We’ve been reviewing individual corporate filings for issues related to data quality since 2015. Have you checked YOUR XBRL filing?
According to a report from the Financial Reporting Council’s Financial Reporting Lab (PDF), XBRL (eXtensible Business Reporting Language) will play a central role in the movement toward the digitalization of corporate reporting. And with regulators in over 60 countries using XBRL for corporate reporting, I agree with the report’s recommendation that regulators, companies and investors […more]
The pace of regulatory developments in financial reporting has accelerated significantly. Standard setters and regulators have transformed both accounting standards and the format of financial reporting, resulting in vast changes to not only how accounting is recorded, but also how financial results are reported. Proper handling of these accounting and reporting changes is a key […more]
In March 2019, the SEC adopted final amendments to its rules which On March 20, 2019, the SEC adopted final rule amendments, in connection with the FAST Act, which have expanded the scope of XBRL tagging requirements to the cover page of Forms 8-K, 10-Q, 10-K, 20-F, and 40-F (annual reports) using Inline XBRL. The […more]
In March 2019, the SEC adopted final amendments to its rules which expand the XBRL tagging requirement to Form 8-K filings. And it’s not just for selected Form 8-K filings; it’s for all of them. Form 8-K is the interim report that companies must file with the SEC to announce major events that shareholders should […more]
The Data Quality Committee is soliciting input on the 7th Data Quality Ruleset during a public review and comment period that will end on September 10, 2018.
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]
Harmonizing accounting and data standards. Read this blog post about the FASB team and their approach to incorporating ASUs into the US GAAP Financial Reporting Taxonomy.
Does your tool or service provider run Data Quality Committee rules on your XBRL filings using version 9 (effective for filings after September 30, 2019)?
If not, why not? Finding and fixing issues identified prior to filing ensures a company’s data conforms to over 50 industry-developed, publicly-reviewed quality checks, and gives the markets a clear picture of your company financials.
See real-time company-specific data quality filing results.