XBRL US submitted a comment letter responding to the Securities and Exchange Commission (SEC) proposal on Investment Company Names. This proposal would require funds to to enhance investor protection through greater clarity and transparency in fund names; and by improving the disclosure requirements for fund terminology by requiring narrative disclosures about a fund’s 80% investment […more]
July, 2022 Michigan State appropriates funding for preparation and collection of local unit government disclosures in XBRL. House Bill 5783 was signed by Governor Whitmer and includes appropriations for fiscal years 2022 and 2023. The IT funding is to be used by Michigan State Treasury to develop an IT strategy focusing on machine-readable (XBRL) financial […more]
Investment Schedule Guidance also published for public review The XBRL US Data Quality Committee (DQC) has published its 19th Rule Set for a 45-day public review and comment period, which closes on September 1, 2022. The freely available DQC rules are developed through a collaborative process with stakeholders by exposing proposed guidance and validation rules […more]
The XBRL US Center for Data Quality kicked off its 19th public exposure period on July 15 and the comment period closes on August 31, 2022. The 45-day review period includes freely available, proposed rules. The Data Quality Committee seeks comment on three new rules and an Investment Schedule Guidance FAQ for US GAAP taxonomy […more]
The Data Quality Committee (DQC) seeks comment through Wednesday, August 31 on three new automated checks for US GAAP filers and corresponding Guidance as an FAQ supplement to FASB’s Implementation Guide: Financial Instruments – Debt Securities. XBRL US Members and public company personnel can evaluate these rules with our secure service to check their filings with version 19.
XBRL US submitted a comment letter responding to the SEC reopened proposal on Listing Standards for Recovery of Erroneously Awarded Compensation. This proposal was originally proposed in 2015. On the SEC Agency Regulatory List, this proposal is expected to be finalized by October of this year. In our letter, we agreed with the SEC proposal […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]
XBRL US submitted a comment letter in response to the Securities and Exchange Commission (SEC) notice of information collection for Form N-MFP, the Monthly Report for Money Market Funds. Today this form, which details disclosure items related to portfolio holdings, including daily and weekly facts, is required to be reported in XML format. Our letter […more]
The Financial Accounting Standards Board (FASB) announced the public review and comment period for the 2022 Q3 Supplemental GAAP Taxonomy. This taxonomy contains elements to help Business Development Companies (BDC) meet their new tagging requirements in addition to other improvements. The taxonomy is out for public review through August 1, 2022. Review the FASB Announcement […more]
The Securities and Exchange Commission (SEC) published their Agency Rule List – Spring 2022 which covers rules in final and proposed stage. Final Action dates noted for certain rules important to XBRL providers include: Share Repurchase Disclosure Modernization Oct 2022 Shortening the Securities Transaction Settlement Cycle Oct 2022 Pay versus Performance Oct 2022 Erroneously […more]
The national consortium for
the business reporting standard
