Staff in the Securities and Exchange Commission’s Division of Economic Risk and Analysis (DERA) analyzed XBRL submissions by IFRS filers to review custom tag rates. The purpose of the analysis was to determine whether IFRS filers, in their first year of required XBRL submissions, were being consistent in their use of custom tags with other filers, or whether their use of custom tags diverged from other filers. In their analysis, the custom tag rate of IFRS filers was higher than that of other filers.
IFRS filers had a custom tag rate of 16% in 2017. By comparison, U.S. GAAP filers had a custom tag rate of 9% in 2017. Or as another comparison, in the first year of full compliance by all U.S. GAAP filers, U.S. GAAP filers had a custom tag rate of 11% in 2011.