Updates

Posted Tuesday, September 10, 2024

Newsletter for the Reporting Standard of Business and Government

August, 2024 XBRL US Conference, Digital Reporting for Measurable Results: Climate, Corporate, Government Announced for November 14 in Washington, DC. The one-day conference will address the expanding demand for digital regulatory reporting of climate and financial data by corporations and governments in the United States, through programs such as the Financial Data Transparency Act (FDTA), […more]

Posted Friday, September 6, 2024

FASB RFC on Proposed 2025 Data Quality Committee Rules Taxonomy (DQCRT)

The Financial Accounting Standards Board (FASB) issued the proposed 2025 Data Quality Committee Rules Taxonomy (DQCRT), which focuses on the XBRL US Data Quality Committee’s (DQC) validation rules for regulator use. The proposed 2025 DQCRT would add the following DQC Rules: DQC 0108: Fact Value Consistency Over Time DQC 0109: Concentration Risk DQC 0112: Line […more]

Posted Thursday, August 29, 2024

XBRL US Presents Digital Reporting for Measurable Results: Climate, Corporate, Government, Washington DC

XBRL US is pleased to announce, Digital Reporting for Measurable Results: Climate, Corporate, Government, a one-day conference to be held in Washington, DC, November 14, 2024. The program will address the expanding demand for digital regulatory reporting of climate and financial data by corporations and governments in the United States, and the impact on all […more]

Posted Monday, August 12, 2024

XBRL US Comments on SEC Draft CYD Taxonomy and Guide

XBRL US commented on the Securities and Exchange Commission (SEC) request concerning the draft Cybersecurity Disclosure (CYD) taxonomy which was developed to support the final rule, Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure. Taxonomy files are included here. The XBRL US letter pointed out mismatches between the draft Taxonomy and the Guide, and asked for […more]

Posted Thursday, August 8, 2024

July 2024 Newsletter

July, 2024 Multiple FSOC Agencies Approve and Publish FDTA Rule Proposal. The Federal Deposit Insurance Corporation (FDIC), Securities and Exchange Commission (SEC), Consumer Financial Protection Bureau (CFPB) and the Federal Reserve Board published the draft rule proposal on their websites. The FDIC was the first to publish the rule which was announced through a statement […more]

Posted Wednesday, August 7, 2024

FASB RFC on Proposed Taxonomy Implementation Guide, Income Taxes

The Financial Accounting Standards Board (FASB) has issued a Proposed Taxonomy Implementation Guide, Income Taxes (Topic 740), which is based on the 2024 GAAP Financial Reporting Taxonomy. The proposed Guide demonstrates the modeling for the reporting of income taxes under FASB Accounting Standards Codification® Topic 740. Interested parties may submit comments on the proposed Guide on […more]

Posted Thursday, August 1, 2024

FASB RFC on Proposed Taxonomy Improvements

The Financial Accounting Standards Board published proposed GAAP Taxonomy Improvements for public exposure periods and has requested comment as follows: The FASB recently re-exposed for comment Proposed GAAP Taxonomy Improvements for Proposed Accounting Standards Update—Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The Taxonomy Staff is interested in feedback on […more]

Posted Thursday, August 1, 2024

FDTA Agencies Publish Proposed Rule

The rule proposal for the Financial Data Transparency Act (FDTA) has been published on the websites of  the FDIC, the Consumer Financial Protection Bureau (CFPB), the Commodities Future Trading Commission (CFTC), the National Credit Union Administration (NCUA), the Federal Housing Finance Agency (FHFA) , the Securities Exchange Commission (SEC), and the Federal Reserve. Securities and […more]

Posted Tuesday, July 16, 2024

Point of View

Identifying the Obligor for Municipal Securities

The complexities of the municipal bond market make it challenging for bond data users to quickly find what they need when searching in the Municipal Securities Rulemaking Board (MSRB) Electronic Municipal Markets Access (EMMA) system. The Financial Data Transparency Act (FDTA) is an important opportunity to enable easier, more concrete search capabilities at a granular level by leveraging entity identifiers and standardization of data.

Posted Tuesday, July 16, 2024

XBRL US Comments on Dept of Commerce RFI: AI and Open Govt Data Assets

XBRL US responded to the Department of Commerce Request for Information on AI and Open Government Data Assets. The XBRL US letter stated, “We agree with the Department of Commerce view that AI systems should be powered by data that is not just machine-readable and accessible, but that is ‘machine-understandable’. Artificial intelligence has enormous potential […more]