The Securities and Exchange Commission announced their plan to host a roundtable on Short-Term / Long-Term Management of Public Companies, Our Periodic Reporting System and Regulatory Requirements. This event will be held on July 18 at 12:30 ET and the public is invited to attend (it will be held at SEC offices at 100 F […more]
- Proposed Updates to 2020 U.S. GAAP Financial Reporting Taxonomy – 1) Equity Securities and 2) Disclosure Update and Simplification - August 14, 2019
- SEC Interactive Data Test Suite Update 51a-190729 - July 31, 2019
- Custom Tag Rates in IFRS XBRL Exhibits Submitted in 2017 and 2018 - July 24, 2019
- Proposed Update to 2020 U.S. GAAP Financial Reporting Taxonomy—Codification Improvements to Topic 326, Financial Instruments—Credit Losses - July 10, 2019
- IFRS Taxonomy Preparer's Guide - July 10, 2019
From the Federal Register
- Form CRS Relationship Summary; Amendments to Form ADV - July 12, 2019
- Auditor Independence With Respect to Certain Loans or Debtor-Creditor Relationships - July 5, 2019
- Adoption of Updated EDGAR Filer Manual - July 1, 2019
- Revisions to the Filing Process for Commission Forms - June 27, 2019
- Commission Information Collection Activities (FERC Form No. 60, FERC-61, and FERC-555A); Comment Request - May 30, 2019
The SEC posted an analysis of extensions used in XBRL submissions. While there is little change in the overall rate for filers from 2017 to 2018 (hovering around 18%), accelerated filers use of extensions has come down slightly versus prior period, and is now more inline with other filers at 18%. Read the release.
June 2019 Legislative and Regulatory News GREAT Act Passes Senate Committee on Homeland Security & Government Reform FERC Adopts XBRL Standards for Utilities Reporting California State Assembly Committee Approves SB 598, Open Financial Statements Act SEC Publishes Concept Release to Harmonize Exempt Offerings SEC Updates EDGAR to Release 19.2, Publishes DEI Taxonomy U.S. Federal Data […more]
Does your tool or service provider run Data Quality Committee rules on your XBRL filings using version 8 (effective for filings after May 8, 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.
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]