Posted on Monday, July 8, 2019

XBRL US sole practitioner member, Liz Sweeney, presented her views to the White House Office of Management and Budget during a July 8, 2019, Data Coalition event, held in Washington, DC, noting:

I believe that encouraging adoption of financial reporting standards for state and local governments would create synergistic benefits within the federal data strategy. Specifically, I recommend that the federal government require federal grantees to report their single audit and audited financial statements in a widely accessible, transparent, standardized, and machine-readable form such as XBRL. As an openly accessible license-free standard that is widely used globally and particularly good at handling monetary values, XBRL is a very powerful way of accomplishing federal data standard goals in a cost-effective and transparent way.

Read remarks: Federal Data Strategy comments Nutshell Associates July 8 2019