XBRL US State and Local Disclosure Modernization Working Group formed to use standards to improve government financial transparency, enhance the efficiency of the municipal bond market, and aid efforts to streamline regulatory reporting, including grant reporting.
XBRL US submitted a comment letter responding to the SEC Request for Comment about its draft Strategic Plan 2018-2022. Recommendations include: Require all financial data submitted by all reporting entities, to be provided in computer-readable, standardized format. Use consistent standards across the agency to keep the cost of producing and consuming the data low, and […more]
On July 9, 2018, the SEC upgraded the EDGAR system in Release 18.2 to support the 2018 IFRS Taxonomy. The EDGAR system no longer supports the 2016 US GAAP, 2013 DEI, 2009 DEI, 2016 EXCH, and 2010 Risk-Return taxonomies. The EDGAR system currently supports the 2018 US GAAP, 2018 SEC Reporting (SRT), 2018 DEI, 2018 […more]
XBRL US applauds the decision by the Securities and Exchange Commission to adopt Inline XBRL for operating companies and funds.
SEC Commissioner Robert J. Jackson to keynote XBRL Investor Forum 2018: Powering Fintech, November 8 in New York City. The event is hosted by Baruch College’s Zicklin School of Business, with sponsorship by CFA Institute and CFA Society New York.
On June 28, 2018, the SEC approved, in a 4 to 1 vote, a final rule transitioning operating companies and funds to Inline XBRL. The SEC also noted that XBRL will continue to be part of disclosure controls and procedures and that there is no change in assurance requirements (XBRL is not subject to assurance). […more]
On June 27, the U.S. Department of Commerce published a Request for Comment seeking input on the President’s Management Agenda which established a Cross-Agency Priority (CAP) goal of Leveraging Data as a Strategic Asset. This program has an intended purpose of guiding development of a comprehensive long-term Federal Data Strategy to grow the economy, increase […more]
On June 19, 2018, the Securities and Exchange Commission published their draft Strategic Plan for 2018-2022 which contains five goals, one of which is to “Elevate the SEC’s performance by enhancing our analytical capabilities and human capital development.” The Commission has adopted five strategies to reach this goal including the expanded use of data analytics. The […more]
Today, the Securities and Exchange Commission announced an open meeting to be held on June 28, 2018, which will cover two rule proposals with an XBRL component: whether to adopt amendments to rules and forms to require the use of the Inline eXtensible Business Reporting Language (XBRL) format for the submission of operating company financial […more]
XBRL US opposes H.R. 5054 & presents findings from new study showing 41% decline in XBRL costs to small public companies in letter to House Financial Services Committee.
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