June, 2020 XBRL US CEO blogs about “Single audit, data standards and the GREAT Act”. President and CEO Campbell Pryde explains the importance of understanding all the facts behind how Single Audit reports are prepared today, and how data standards required in the GREAT Act are designed to improve the process for grantees, auditors, government […more]
Items tagged with "government"
The success of the GREAT Act depends on the data standards, and the implementation. That’s why it’s important to have all the facts on how grantees report today, and on how the right standard can be applied to not only meet the “letter of the law” but fulfill the promise of this important legislation.
Most U.S. government data agencies today do not require data standards for information reported by businesses, grantees, or state and local governments. Agencies could easily transition to data standards programs, with gains for all stakeholders: reporting entities would eliminate duplicate data preparation, and enjoy low costs from competitively priced preparation tools government agencies would experience […more]
May, 2020 CAFR Taxonomy public review is closed. Multiple comments received. XBRL US concluded the public review for V0.3 of the CAFR Taxonomy which represents seven statements, two footnotes and several schedules for the Single Audit Report. Comments were received from the Governmental Accounting Standards Board (GASB), as well as individual states, including Tennessee and […more]
SEC Chairman Jay Clayton and the SEC Director of the Office of Municipal Securities Rebecca Olsen, published a joint public statement on The Importance of Disclosure for our Municipal Markets, with a subheading “The Effects of COVID-19 Have Raised Uncertainties Regarding the Financial Status of State and Local Governments and Special Purpose Entities; Municipal Securities […more]
April, 2020 Economic difficulties brought on by the COVID-19 crisis highlight the value of timely, accurate, consistent data to aid in the administering of loan programs like the small business loans in the CARES stimulus package, and in other relief programs we’re likely to see down the road. Congress has approved billions in funds for […more]
Data from U.S. public companies has been produced in machine-readable format for over ten years. But data from U.S. federal, state and local governments is still posted in paper-based documents. Governments should be as accountable to taxpayers as corporations are to shareholders.
Single audit, data standards, and the GREAT Act
Campbell Pryde, President and CEO, XBRL US
The success of the GREAT Act depends on data standards developed, and implementation. Get the facts on how grantees report today, and on how the right standard can be applied to not only meet the “letter of the law” but fulfill the promise of this important legislation.
March, 2020 March has been a difficult month, as we all adapt to a new environment, way of living and doing business. Filers and XBRL providers may face challenges and the SEC has instituted several temporary relief measures to help filers during the COVID-19 crisis. Many of our members are small businesses which face unique […more]
This virtual event will focus on the future of RegTech applications in society, specifically strategies for realizing efficiencies for financial services and government agencies. During the virtual RegTech Data Week, participants will discuss the benefits and uses of common entity identifiers, development of new pilot projects to advance the use of structured data in regulatory […more]