Responses to these questions reflect the informal views of one or more members of the staff of the U.S. Securities and Exchange Commission participating in a discussion and do not constitute an official statement of the views of the Commission or of the staff of the Commission and should not be relied upon as authoritative. […more]
XBRL US submitted a response to the White House Office of Management and Budget, in response to the Federal Data Strategy Year-1 Action Plan. The letter noted that to attain the long-term vision of the Federal Data Strategy to better govern and leverage the Federal Government’s data, requires developing and implementing a single cross-agency data […more]
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]
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]
XBRL US submitted a comment letter responding to the Federal Energy Regulatory Commission (FERC) proposal regarding the scope and implementation of the Commission’s electric transmission incentives regulations and policy. The FERC proposal references form FERC-730, Report of Transmission Investment Activity, and asks if the data reported in this form should be provided in XBRL format. Public […more]
Does your tool or service provider incorporate the current version – 8 – of approved XBRL US Data Quality Committee rules, and successfully run the rules on your XBRL filings before SEC submission to produce expected results?
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]
The Federal Energy Regulatory Commission (FERC) announced that they are adopting the XBRL standard for utilities reporting on Form Nos. 1, 1-F, 2, 2-A, 3-Q electric, 3-Q natural gas, 6, 6-Q, 60, and 714. The final rule states: “The use of XBRL will make the information in these forms easier for filers to submit and […more]
The GREAT Act (H.R. 150, S. 1829) was passed by the Senate Committee on Homeland Security and Governmental Affairs. The bill will next go to the full Senate for a vote. The bill calls for the creation of government-wide data standards to be used by grants recipients, as noted in the section of the bill […more]
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