October, 2025
XBRL US announced the Data Standards Forum: Advancing Semantic Intelligence in Washington, DC. Register to attend this one-day conference on artificial intelligence, the future of open data standards in a regulatory environment, and enhancements to the XBRL technical specification. Featured speakers will join from Columbia University, the Data Foundation, the EDM Council, FactSet, the Financial Accounting Standards Board (FASB), the Global LEI Foundation, IRIS Business Services LLC, Novaworks LLC, Suffolk University, the University of Wisconsin-Whitewater, and XBRL US. Attendance is free for members of XBRL US. Register to attend: https://xbrl.us/events/data-forum-2025/
XBRL US commented on the draft GHG emissions reporting template published by the California Air Resources Board (CARB). The Climate Corporate Data Accountability Act (SB 253) calls for companies over a $1,000,000 revenue threshold and that do business in the State of California to report their GHG emissions. CARB requested feedback on an Excel-based template (see template download page) that covered entities can use to prepare and enter data to satisfy SB 253. In our letter, we agreed with the approach of providing a free tool for certain reporting entities but also recommended that CARB:
- Provide an open-source tool (template) that generates digital (XBRL) data
- Allow global companies to submit the same digital report they are required to submit to non-US regulators
- Provide a similar open-source template approach for SB 261 that produces digital (XBRL) data
- Reduce the cost of the program for reporting entities by adopting standards
SEC EDGAR Release 25.3 now supports the SPAC Taxonomy. The Securities and Exchange Commission (SEC) has upgraded the Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system to Release 25.3 and now supports the Updated Special Purpose Acquisition Company (SPAC) Taxonomy.
XBRL US provided input to the Securities and Exchange Commission (SEC) in anticipation of the rule proposal on municipal bond issuance as part of the Financial Data Transparency Act (FDTA) implementation. The letter follows our comments submitted in the initial FDTA comment period on October 21, 2024. It addresses objections raised by municipal bond issuers in their own FDTA comments which concerned cost, lack of market feedback, and skepticism over the usefulness and feasibility of data standards implementation for the government marketplace. Our letter pointed out that:
- Costs for some reporting tools may be as low as free for open source tools to $1000-$1500, and that the cost of obtaining an LEI can be as low as $39 per year. Disclosure management tools which are often cited as the "cost of structured data preparation" have higher price points but include sophisticated features to manage data processing and reporting far beyond digital standards formatting.
- The conversation on digital data standards for governments is not new and was raised as early as 2009.
- Although financial statements for general purpose and special district governments vary, there are certain commonalities across statements, and pilots have been conducted to demonstrate that standards can be created to accommodate all types of government entities.
The Financial Accounting Standards Board (FASB) requested comment on the 2026 Meta Model Relationships Taxonomy. The request, Proposed Improvements for the 2026 Meta Model Relationships Taxonomy (Release Notes), File Reference No. 2026-2700, is out for public comment during a period ending December 1, 2025. Comments on the proposed improvements for the 2026 Meta Model Relationships Taxonomy can be made through the Taxonomy Online and Comment System (TORCS), by emailing comments to xbrled@fasb.org or by sending written comments to "Chief of Taxonomy Development, FASB, 801 Main Avenue, P.O. Box 5116, Norwalk, CT 06856-5116." Be sure to include the File Reference Number indicated on the cover of the Release Notes.
The National Association of Surety Bond Producers (NASBP) published "Streamlining WIPs with Digital Technology". The article addresses bringing structured, standardized data to the bond underwriting process and appears both online and in print. It features the work conducted by the XBRL US Surety Working Group to develop a taxonomy that expresses contractor WIP (Work-in-Process) reports and to promote adoption across the industry.
XBRL US Events
Webinar: Data Quality Rules in US GAAP Taxonomy 2026, Wednesday, November 19 at 3 PM ET
The Financial Accounting Standards Board (FASB) will be adding 30 new data quality rules to its Data Quality Committee Rules Taxonomy (DCQRT) to the 2026 US GAAP Taxonomy. Hear the FASB's David Shaw, the Chair of the XBRL US Data Quality Committee and Advisor at Toppan Merrill's Shelly Wavrin, plus XBRL US' Campbell Pryde on which rules will be added and how rules are created. Attend this free webinar (with an option to earn 1 CPE credit for $49/$39 members): https://xbrl.us/events/251119
Webinar Replay SBR: Dutch Banking Case Study, October 2025
The SBR program in the Netherlands has expanded to the banking community where three major Dutch banks, ING, ABN Amro, and Rabobank, initiated a program called SBR Nexus to collect digital reports on their customers' operations. The banks leveraged the SBR infrastructure established by the Dutch government to improve efficiencies in information exchange between business and government agencies. Attend this program to hear René van der Meij, CTO of SBR Nexus explain how the program was developed and how it has helped banks fine-tune their credit models, improve capital allocation and risk management. Hear a discussion with Sean Ryan, CFA, Financial Sector Lead at FactSet about what SBR could mean for the U.S. banking industry. Watch: https://xbrl.us/events/251001
XBRL US Meetings
The Data Quality Committee (DQC) met on Wednesday, October 15 and approved version 28 of their Rules for SEC filers. Learn about the DQC: https://xbrl.us/dqc
The Domain Steering Committee will meet Tuesday, November 18, at 2 PM ET. https://xbrl.us/events/dsc-251118 - all XBRL US Members are invited to attend
The Communications Steering Committee will meet Tuesday, November 18, at 3 PM ET. https://xbrl.us/events/csc-251118 - all XBRL US Members are invited to attend
The Regulatory Modernization Working Group will meet Tuesday, November 11, at 3 PM ET. (membership@xbrl.us for details)
The Standard Government Reporting Working Group will be on hiatus until January 2026. (membership@xbrl.us for details)
The Technical Advisory Committee (XTAC) will meet on Wednesday, November 12, at 4 PM ET. (membership@xbrl.us for details)
The Academic Subcommittee will meet Thursday, November 20, at 12 PM ET. (membership@xbrl.us for details)
XBRL US Members are committed to engaging and collaborating with other members, contributing to the standard through involvement of their teams, and striving to build awareness and educate the market. Members of XBRL US represent the full range of the business reporting supply chain.
Not yet an XBRL US member? Maybe it's time to consider joining XBRL US for yourself ($55 - $550/ year) or your organization (fees vary). Find out more about the benefits of membership and how to become involved by visiting https://xbrl.us/benefits.