Data standards can improve efficiencies and reduce costs in many reporting situations, beyond SEC reporting by public companies and bank reporting to the FDIC. Recognizing this, XBRL US has established individual initiatives supported by industry participants that focus solely on specific reporting domains.
Each initiative is supported by a working group that is tasked with developing the adoption strategy, providing expertise to any development work conducted and helping communicate the message to expand the stakeholder group.
Unlike regular corporate membership, single initiative members are not eligible to participate in other XBRL US working groups and are not eligible for XBRL International membership. Regular corporate members of XBRL US are free to join any single initiative working group.
First-time members will also need to complete and submit the XBRL US Organizational Member Application