The latest on Using XBRL Data

News

Posted Tuesday, March 10, 2020

XBRL US Comments Prior to SEC Muni Conference “Spotlight on Transparency”

XBRL US submitted a comment letter to the Securities and Exchange Commission’s Office of Municipal Disclosures in advance of their scheduled conference “Spotlight on Transparency: A Discussion of Secondary Market Municipal Securities Disclosure Practices”. The XBRL US letter advocated for the use of data standards for state and local government reporting and asked that the […more]


News

Posted Monday, March 9, 2020

XBRL US CAFR Taxonomy Released with New Statements, Schedules and Footnotes

Now includes Single Audit Report schedules for municipalities and other federal grantees XBRL US announced today the public review of the third version of the demonstration Comprehensive Annual Financial Reporting (CAFR) Taxonomy, which now includes seven financial statements, two footnotes, and two schedules from the Single Audit Report. The taxonomy will be published for a […more]


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Posted Monday, March 2, 2020

February, 2020 Newsletter

February, 2020 XBRL continues to gain traction in regulatory and government reporting. On the SEC filing front, the FASB has incorporated XBRL US DQC rules into the 2020 US GAAP Taxonomy which is a big win for data quality. Separately, XBRL US submitted a comment letter on the SEC’s proposal that XBRL be required for […more]


News

Posted Tuesday, February 25, 2020

XBRL US Comments on SEC Proposal: Filing Fee Disclosure & Payment Methods Modernization

XBRL US submitted a comment letter weighing in on the SEC proposal that fees and calculation tables in fee-based tables be prepared in Inline XBRL format. XBRL US supports the proposal and agrees with the Commission that structuring fee data will improve the efficiencies of the fee validation process for SEC staff, and will increase […more]


News

Posted Tuesday, February 11, 2020

SEC Updates Interactive Data Test Suite

The Securities and Exchange Commission (SEC) has updated their Interactive Data Test Suite, which is located at https://www.sec.gov/structureddata/osdinteractivedatatestsuite. The test suite is designed to assist filers using software to validate their XBRL filing prior to EDGAR submission. For a summary of changes, see the change log on the last page of the summary file (https://www.sec.gov/info/edgar/ednews/efmtest/efm-53.1d-200210.zip). Comments […more]


News

Posted Monday, February 10, 2020

SEC Fixed Income Markets Advisory Committee (FIMSAC) Addresses Muni Transparency

The Securities and Exchange Commission’s Fixed Income Markets Advisory Committee held a meeting on February 10, 2020 including a panel on “Draft Municipal Securities Transparency Recommendation Regarding Timeliness of Municipal Issuer Disclosures”. Speakers on the panel were: Geidre Ball, Metropolitan Washington Airports Authority Emily Brock, Government Finance Officers Association Akiko Mitsui, Vanguard Hannah Sullivan, Fidelity […more]


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Posted Monday, February 3, 2020

January 2020 Newsletter

January, 2020 2020 will be a critical year for the modernization of government and regulatory reporting. On December 30, 2019, the President signed the Grants Reporting Efficiency And Transparency (GREAT) Act (https://www.congress.gov/bill/116th-congress/house-bill/150) into law, which requires the use of data standards in grants reporting. The GREAT Act dovetails with the President’s Management Agenda, Results-Oriented Accountability […more]


News

Posted Thursday, January 30, 2020

SEC Proposes Reg S-K Modernization, Including MD&A

The Securities and Exchange Commission (SEC) announced rule amendments to modernize, simplify, and enhance certain financial disclosure requirements in Regulation S-K. The amendments include eliminating Item 301 of Regulation S-K, Selected Financial Data and Item 302 of Regulation S-K, Supplementary Financial Information to eliminate duplication. The rule also includes an amendment to Item 303 of […more]


News

Posted Thursday, January 23, 2020

SEC Announces Conference on Municipal Securities Disclosures

The Securities and Exchange Commission announced that they are scheduling a conference titled “Spotlight on Transparency: A Discussion of Secondary Market Municipal Securities Disclosure Practices” to be held on March 10  at SEC headquarters in Washington D.C. from 9:30 a.m. to 4 p.m. The event will be open to the public, with advance pre-registration available here. A livestream of the […more]


News

Posted Tuesday, December 31, 2019

U.S. Federal Data Strategy – 2020 Action Plan Published

The U.S. Federal Data Strategy Plan, which provides a common set of data principles and best practices in implementing data innovations, was published on December 31, 2019. Annual action plans identify and prioritize practice-related steps for the year, and include targeted time frames and responsible entities. The plan outlines Agency Actions, Community of Practice Actions, and […more]



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