Founded in 2002, Truth in Accounting believes truthful accounting is the key for citizens, legislators, and the press to clearly understand the truth about government finances. To be knowledgeable participants in their governments’ financial decisions, citizens need accurate and complete financial information. Our work has focused on encouraging public entities to produce financial reports that […more]
This working group is pursuing opportunities involving Comprehensive Annual Financial Reports (CAFRs), Single Audit packages, state-mandated Annual Financial Reports (AFRs), and responses to relevant Census Bureau financial surveys. The group will support relevant institutions gaining technical understanding and establishing best practices for disclosure modernization for the benefit of US state and local governments, as well as public pension systems.
Attend this one-hour session to learn how financial data standards can improve the efficiency of state and local government data processing.
On October 5, Marc Joffe of the Reason Foundation published an article on Financial Reporting Standards Can Foster Municipal Market Disruption in the Financial Revolutionist. Below is an excerpt from the article: “While fintech start-ups are disrupting many financial markets, the US municipal bond market has been largely left behind. As a result, the $3.9-trillion muni […more]
Axios Advisors’ Triet Nguyen published an article on how financial data standards can impact municipal reporting: The “stodgy” municipal market is on the verge of a Big Data revolution, driven by rising support for adoption of iXBRL, a machine-readable financial reporting standard, and an increasing need for ESG-related data. Read the full article.
XBRL US Members can register to watch/listen to proceedings of this working group meeting.
On August 17, Marc Joffe of the Reason Foundation published an article on Making Government Documents Searchable and Machine-Readable to Improve Transparency and Accountability which states: “In Florida, and nationally, Reason Foundation is working to improve the accounting transparency of state and local governments by seeking the mandatory disclosure of government financial documents in a machine-readable […more]
XBRL US Members can register to watch/listen to proceedings of this working group meeting.
XBRL US Members can register to watch/listen to proceedings of this working group meeting in St. Petersburg, Florida.
This XBRL US working group seeks to address standards related to state and local government annual financial reports by designing schemas and XBRL implementation(s) for open data reporting of state and local government actual financial results.
The national consortium for
the business reporting standard
