Michigan Governor Whitmer signed off on House Bill No. 5783 which includes appropriations for fiscal years 2022 and 2023. The bill includes funding for Michigan State Treasury to work in partnership with a public university located in Michigan to develop an IT strategy focusing on machine-readable financial disclosures for local units of government, and that […more]
June, 2022 The University of Michigan (U-M) launches a public review of government financial data standards. Governments, standard setters, regulators and analysts are encouraged to review and comment on the Annual Comprehensive Financial Reporting (ACFR) Taxonomy, which represents seven financial statements and four notes, in addition to Michigan-specific reports that local entities submit along with […more]
Marc Joffe, Senior Policy Analyst at Reason Foundation (XBRL US member) noted in a recent blog post, “XBRL can make data from state and local governments more digestible and publicly available. In 2002, three academic researchers proposed applying eXtensible Business Reporting Language (XBRL) to state and local government financial reporting to make municipal data more digestible and […more]
Governments, standard setters, regulators, and analysts encouraged to provide input XBRL US, a nonprofit standards organization, and the Center for Local, State, and Urban Policy (CLOSUP) at University of Michigan’s Gerald R. Ford School of Public Policy, announced the publication of digital financial data standards for local government reporting entities, that can be used to […more]
May, 2022 With Memorial Day behind us, the start of Summer is right around the corner (officially June 21). Time for barbecues, picnics, heading to the beach… And this year, more rule proposals and final implementations with structured data requirements from the SEC! Two new SEC proposals focused on investment management filers were published in […more]
On Tuesday, May 24, the Financial Data Transparency Act (FDTA) (S.4295) was referred to the Senate Committee on Banking, Housing, and Urban Affairs. The bill is sponsored by Senator Mark Warner (Democrat) and co-sponsored by Senator Mike Crapo (Republican). The FDTA legislation directs the Department of the Treasury, Securities and Exchange Commission, Federal Deposit Insurance […more]
April, 2022 The XBRL US ESG Working Group announces publication of machine-readable corporate sustainability data. The working group, which is responsible for the paper, Supporting ESG Data with Standards, worked closely with Etsy, the company that operates two-sided online marketplaces matching millions of buyers and sellers around the world, and with Moody’s Corporation, the parent […more]
March, 2022 Environmental issues remain in the headlines! The SEC has published their long-awaited rule proposal on climate, Enhancement and Standardization of Climate-Related Disclosures, and conducted a special hearing to discuss and vote. The proposal, which passed by a vote of 3-1, establishes requirements for domestic and foreign registrants to disclose certain climate-related information in […more]
February, 2022 More rule proposals with structured data requirements from the SEC. This month the Securities and Exchange Commission published two new proposals that contained structured data requirements, both with comment period due dates of April 22, 2022. Cybersecurity Risk Management for Investment Advisors, Registered Investment Companies, and Business Development Companies proposes that registered investment […more]
XBRL US is excited to partner with the Data Coalition’s RegTech22 Data Summit! Recently added! Morning public forum: Accelerating AI in the Public Sector This in-person and virtual event will take place on Wednesday, March 16, 2022 in Washington D.C. The half day summit will focus on applying data innovation with regulatory technologies to improve […more]
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the business reporting standard
