In October, 2018, the Data Quality Committee – a collaborative of public companies, providers and data users working to improve standardized financial reporting – approved version 7 of freely-available rules and guidance to help filers using US GAAP and IFRS Taxonomies supported by the US Securities and Exchange Commission detect and resolve inconsistencies or errors in XBRL-formatted financial data.
News from XBRL International
- CRD Launch Project to Standardise ESG - November 9, 2018
- How Should I Prepare for Tech Disruption? - November 9, 2018
- Deutsche Bank: Thoughts on the Future of Financial Technology. - November 9, 2018
- Structured Business: How can Structured Data Improve Outcomes? - November 9, 2018
- Extend XBRL to ESG to Enhance Climate Finance - November 7, 2018
- IFRS Foundation Publishes Proposed Update to the IFRS Taxonomy 2018 on IFRS 13 Common Practice - October 17, 2018
- SEC Interactive Data Test Suite Update 48-181001 - October 4, 2018
- Draft 2018 Volcker Rule Metrics Instructions and Technical Specifications - August 24, 2018
- Exchange-Traded Funds Proposed Rule - August 3, 2018
- Trend Analysis on Custom Tag Rates in XBRL Exhibits Submitted from 2015 to 2017 - July 13, 2018
From the Federal Register
- Adoption of Updated EDGAR Filer Manual - November 5, 2018
- Disclosure Update and Simplification - October 4, 2018
- Financial Disclosures About Guarantors and Issuers of Guaranteed Securities and Affiliates Whose Securities Collateralize a Registrant's Securities - October 2, 2018
- Inline XBRL Filing of Tagged Data - August 16, 2018
- Regulation of NMS Stock Alternative Trading Systems - August 7, 2018
XBRL US announced today that RDG Filings, a full service XBRL preparation and provider of disclosure management tools, has renewed their membership in the XBRL US Center for Data Quality for 2019. The Center for Data Quality is an industry-driven collaborative with a mission to address the public’s concerns about the quality and usability of […more]
The Securities and Exchange Commission published a rule proposal on “Updated Disclosure Requirements and Summary Prospectus for Variable Annuity and Variable Life Insurance Contracts” that would require the use of Inline XBRL. The proposal notes: “We are proposing to require the use of the Inline XBRL format for the submission of certain required disclosures in […more]
XBRL US submitted a letter in response to the SEC’s Request for Comment about the Fund Retail Investor Experience. Thanks goes to our members who joined a short-term working group to discuss and prepare the letter. The letter explains the benefits of data standards and in particular, how they benefit retail investors: “While few retail […more]
SEC Commissioner Kara Stein gave an address to the Council of Institutional Investors named “Improving Information for Investors in the Digital Age”. Here are some notable quotes from the Commissioner: …Just a few weeks ago, a group of institutional investors, asset managers, state treasurers, and others petitioned the SEC. They asked the Commission to require […more]
SEC Launches Strategic Hub for Innovation and Financial Technology (FinHub). The FinHub will serve as a resource for public engagement on the SEC’s FinTech-related issues and initiatives, such as distributed ledger technology (including digital assets), automated investment advice, digital marketplace financing, and artificial intelligence/machine learning. FinHub activities include: 1) Provide a portal for industry and the public […more]
IFRS Foundation Proposes Updates to IFRS Taxonomy 2018, Requests Comment During a Public Review. The Proposed Update includes common reporting practice for disclosure requirements in IFRS 13, such as: 1) sensitivity of fair value measurement to changes in unobservable inputs; and 2) quantitative information about significant unobservable inputs used in fair value measurement. The public comment […more]
In this issue:
- Our first webinar featured guest Marc Siegel, former member of the Financial Accounting Standards Board
- Calcbench Cool Insights
Unremitted foreign earnings, where are you?
Exchange rate effects on cash.
- Geeking Out on the Filings
Campbell Soup gets squeezed.
Disclose your movie plans.
Thoughts on structured data.
The Securities and Exchange Commission’s interactive data test suite has been updated. Comments on the test suite may be submitted via email to StructuredData@sec.gov indicating “Interactive Data Test Suite” in the subject field. The purpose of the public test suite is to assist filers using software to validate Interactive Data prior to its submission to EDGAR. The test […more]
The Securities and Exchange Commission proposed a rule on Financial Disclosures about Guarantors and Issuers of Guaranteed Securities and Affiliates Whose Securities Collateralize a Registrant’s Securities. The Commission is looking for comment on this proposal within 60 days of October 2, 2018, the date of publication of the proposal in the Federal Register. The proposal […more]