Public companies, data providers, analysts and XBRL providers invited to comment
XBRL US announced the start of the first public exposure period for rules developed by the Data Quality Committee, which is funded through the Center for Data Quality. The Committee is responsible for developing guidance and validation rules that can prevent or detect inconsistencies or errors in XBRL data filed with the SEC and focuses on data quality issues that adversely affect data analysis.
The public review that launched today contains seven proposed validation rules that test selected attributes reported for over 2,400 individual elements and certain broad classes of elements (such as Document and Entity Information). Comments received during the 60-day public review period will be evaluated for incorporation into final rules that will be made freely available and will be contributed to the open source Arelle XBRL platform. The public will be able to review a plain English description of the rules and submit comments. Developers can download the open source code to incorporate into their own software, to use as a reference implementation against their software and to provide feedback.
About XBRL US
XBRL US is the non-profit consortium for XBRL business reporting standards in the U.S. and it represents the business information supply chain. Its mission is to support the implementation of XBRL 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 under contract with the U.S. Securities and Exchange Commission and has developed a taxonomy for corporate actions.