In February, 2019, the Data Quality Committee – a collaborative of public companies, providers and data users working to improve standardized financial reporting – approved version 8 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.
Items tagged with "data quality"
At this meeting, industry leaders will participate in discussions and plans for developing guidance and rules for use by public companies complying with the XBRL requirements of the US Securities and Exchange Commission. Learn about the Data Quality Committee.
CFA Institute Podcast – Structured Data, Artificial Intelligence, and Blockchain: What Will the Future Bring?
To hear CFA Institute perspectives on how technology is driving changes in corporate reporting, listen to this podcast of Mohini Singh, ACA, Director of Financial Reporting Policy at CFA Institute, in conversation with the UK Financial Reporting Council on: how investors use structured data; how data providers pull XBRL data from filings, normalize and clean […more]
8th Ruleset published for public review and comment period The XBRL US Data Quality Committee (DQC) has finalized, approved, and published its 7th Ruleset which includes 13 types of validation checks for filings prepared using the US GAAP Financial Reporting Taxonomy as well as two guidance documents. The DQC also published an 8th Ruleset for […more]
The XBRL US Center for Data Quality kicked off its eighth public exposure period on December 17 and the comment period closes on February 1, 2019. The 45-day review period includes freely available, proposed rules. The Data Quality Committee seeks comment on two new automated validation Rules – Member Extensions and Negative Values (for IFRS […more]
In the current public exposure period of rules and guidance for public company filers, the Data Quality Committee (DQC) seeks comment on version 8 of the DQC Rules for Extension Members for US GAAP and IFRS filings and Negative Values for IFRS filings only through Friday, February 1, 2019.
Preparing a perfect turkey is critical for a successful Thanksgiving. Preparing quarterly financial statements is another activity where “getting it right” is critical. The risk of mistakes has significant downsides, ranging from SEC sanction to negatively affecting your company stock price.
Conducting simple queries, like identifying the filings that contain the most reported facts, used to be extremely time-consuming and labor-intensive to perform. Today, the availability of structured, machine-readable (XBRL) data and the XBRL API makes getting answers – using simple or complex queries – easy.
XBRL US white paper “XBRL US Center for Data Quality, an industry initiative for the common good”, details timeline, milestone and accomplishments to date including significant reduction in errors, greater engagement with regulators and expanding usage of XBRL data.
The applications linked below have been reviewed and found to: incorporate the set of approved XBRL US Data Quality Committee rules, as noted next to each application, and successfully run the rules on XBRL filings to produce expected results. The latest approved version of the DQC rules and guidance validations is 8, supporting US GAAP […more]