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, […more]
The Securities and Exchange Commission announced their plan to host a roundtable on Short-Term / Long-Term Management of Public Companies, Our Periodic Reporting System and Regulatory Requirements. This event will be held on July 18 at 12:30 ET and the public is invited to attend (it will be held at SEC offices at 100 F […more]
The SEC posted an analysis of extensions used in XBRL submissions. While there is little change in the overall rate for filers from 2017 to 2018 (hovering around 18%), accelerated filers use of extensions has come down slightly versus prior period, and is now more inline with other filers at 18%. Read the release.
XBRL US submitted a comment letter responding to the Federal Energy Regulatory Commission (FERC) proposal regarding the scope and implementation of the Commission’s electric transmission incentives regulations and policy. The FERC proposal references form FERC-730, Report of Transmission Investment Activity, and asks if the data reported in this form should be provided in XBRL format. Public […more]
According to a report from the Financial Reporting Council’s Financial Reporting Lab (PDF), XBRL (eXtensible Business Reporting Language) will play a central role in the movement toward the digitalization of corporate reporting. And with regulators in over 60 countries using XBRL for corporate reporting, I agree with the report’s recommendation that regulators, companies and investors […more]
The Federal Energy Regulatory Commission (FERC) announced that they are adopting the XBRL standard for utilities reporting on Form Nos. 1, 1-F, 2, 2-A, 3-Q electric, 3-Q natural gas, 6, 6-Q, 60, and 714. The final rule states: “The use of XBRL will make the information in these forms easier for filers to submit and […more]
The GREAT Act (H.R. 150, S. 1829) was passed by the Senate Committee on Homeland Security and Governmental Affairs. The bill will next go to the full Senate for a vote. The bill calls for the creation of government-wide data standards to be used by grants recipients, as noted in the section of the bill […more]
Posted this month: SEC Requests Public Comment on Ways to Improve the Exempt Offering Framework SEC Updates List of Firms Using Inaccurate Information to Solicit Investors Updated Application for First-time EDGAR Filers’ Form ID SEC Enhances Protections and Preserves Choice for Retail Investors Notice Regarding EDGAR Password Expiration Date SEC Releases EDGAR 19.2
The California State Assembly, Committee on Local Government, unanimously (8 to 0) approved SB 598, the Open Financial Statements Act. If signed into law, this bill requires the creation of the Open Financial Statements Commission, a 9-member commission in the State Treasurer’s office, comprised of a representative from the Controller’s office, a representative from the […more]
The SEC published a concept release on ways to ways to simplify, harmonize, and improve the exempt offering framework to expand investment opportunities while maintaining appropriate investor protections and to promote capital formation. One of the goals of the Commission is to facilitate a company’s ability to transition from one offering to another or to […more]
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