Posted on Monday, November 21, 2022

Invites public companies and BDCs to a December 14 webinar to learn more

The XBRL US Data Quality Committee (DQC) has published its 20th Rule Set with five proposed rules for corporate issuers, and two proposed rules that are specific to business development companies (BDC). Issuers, accountants, filing agents and tool providers are invited to comment on the rules during a 45-day public exposure period that will close on December 31, 2022. DQC rules are freely available to US GAAP and IFRS issuers to help validate their filings and identify potential errors. Using DQC rules aids issuers to prepare consistent, high quality XBRL financials, by providing automated checks that test XBRL-formatted financial statements prior to SEC submission. The DQC is funded through the XBRL US Center for Data Quality.

This year, the Securities and Exchange Commission (SEC) began requiring BDCs to submit their financial statements in Inline XBRL format. BDCs use the US GAAP Financial Reporting Taxonomy to prepare their XBRL-formatted financial statements and can leverage many of the existing DQC rules developed for the US GAAP Taxonomy to improve the quality of their filings. Rule Set 20 contains two new rules designed specifically for BDCs:

  • Rule DQC 0142 – Typed Dimension Axis Restriction. This rule checks that the new typed dimensions used by BDCs are correctly defined.
  • Rule DQC 0143 – Derivative Position Extensible Enumeration. This rule checks that the extensible enumeration element Derivative Position Extensible Enumeration can only use one of two values: Call Option Member, or Put Option Member.

Five additional rules are included in Rule Set 20 which address potential errors for corporate filers using the US GAAP Taxonomy:

  • Rule DQC 0144 – No Balance Attribute in Financial Statements. This rule checks that extension monetary elements created by the issuer that are included in the balance sheet, income statement, cash flow statements and shareholders’ equity statements include a balance attribute.
  • Rule DQC 0145 – Inappropriate Cash Flow Presentation. This rule checks the presentation of the cash flow statement and income statement to determine that elements have been presented correctly.
  • Rule DQC 0146 – Incorrect Period Reported. This rule identifies incorrect period durations used in the income statement of the 10-K.
  • Rule DQC 0147 – Incorrect Sign of Elimination. This rule identifies when a filer enters a positive value for an element using the elimination member (on the consolidated items axis) when it should be negative.
  • Rule DQC 0148 – Other Comprehensive Income (OCI) Items in Income. This rule identifies if OCI items have been included in the calculation of net income.

The DQC will hold a webinar on December 14, 2022, to describe the draft rules and their impact on issuers. All are invited to register for this free, 60-minute session: xx

Issuers that use the freely available rules can find and correct errors, to ensure that regulators and investors are provided with good quality data and the most accurate view of corporate financial health. Filers, data providers, investors, accountants, and preparation tool providers are encouraged to review and comment on the proposed rules. Access the public review for DQC Rule Set 20:

The XBRL US Filing Results & Quality Checks application allows SEC Filers or other interested parties to check EDGAR submissions for DQC errors for any company here:

Filers have immediate access to all final approved rules as well as the 20th Rule Set in public review so that they can check their filings prior to SEC submission. There are several options available to filers:

To access the approved rules and guidance, go to:

Members of the XBRL US Center for Data Quality include Altova, the American Institute of CPAs (AICPA), Broadridge Financial Solutions, Certent an insightsoftware company,DataTracks, Donnelley Financial Solutions (DFIN), EdgarAgents LLC, RDG Filings, Toppan Merrill, and Workiva, Inc.

For more information on the XBRL US Data Quality Committee and the Center for Data Quality, go to:


XBRL US is the non-profit consortium for XBRL business reporting standards in the U.S. and represents the business information supply chain. Its mission is to support the implementation of business reporting standards through the development of taxonomies for use by U.S. public and private sectors, with a goal of interoperability between sectors, and by promoting XBRL adoption through marketplace collaboration. XBRL US has developed taxonomies for U.S. GAAP, credit rating and mutual fund reporting for the U.S. Securities and Exchange Commission and has developed taxonomies for the Federal Energy Regulatory Commission, as well as industry-specific taxonomies for state and local government reporting, corporate actions, solar financing, and surety processing.

Contact: Michelle Savage,, 917 747 1714

Upcoming XBRL US Events

Webinar: SEC Rule – Tailored Shareholder Reports for Mutual Funds and ETFs
Wednesday, May 15, 2024

Domain Steering Committee Meeting
Tuesday, May 21, 2024

Communications & Services Steering Committee Meeting
Tuesday, May 21, 2024

GovFin 2024: Municipal Reporting Workshop
Tuesday, July 30, 2024