Get the latest news and information about XBRL in the United States. We’re also on Twitter with breaking news – twitter.com/xbrlus, and updated event listings – twitter.com/xbrlevents.

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Latest News

Tuesday, February 18, 2020

XBRL Data Quality Checks Available in FASB US GAAP Financial Reporting Taxonomy

XBRL US announced today that the Financial Accounting Standards Board (FASB) has incorporated freely available validation rules into the 2020 release of the US GAAP Financial Reporting Taxonomy. The rules, developed by the XBRL US Data Quality Committee (DQC) are used by public company filers to identify and resolve errors in their XBRL financials prior […more]

Tuesday, February 11, 2020

SEC Updates Interactive Data Test Suite

The Securities and Exchange Commission (SEC) has updated their Interactive Data Test Suite, which is located at https://www.sec.gov/structureddata/osdinteractivedatatestsuite. The test suite is designed to assist filers using software to validate their XBRL filing prior to EDGAR submission. For a summary of changes, see the change log on the last page of the summary file (https://www.sec.gov/info/edgar/ednews/efmtest/efm-53.1d-200210.zip). Comments […more]

Monday, February 10, 2020

SEC Fixed Income Markets Advisory Committee (FIMSAC) Addresses Muni Transparency

The Securities and Exchange Commission’s Fixed Income Markets Advisory Committee held a meeting on February 10, 2020 including a panel on “Draft Municipal Securities Transparency Recommendation Regarding Timeliness of Municipal Issuer Disclosures”. Speakers on the panel were: Geidre Ball, Metropolitan Washington Airports Authority Emily Brock, Government Finance Officers Association Akiko Mitsui, Vanguard Hannah Sullivan, Fidelity […more]

Thursday, January 30, 2020

SEC Proposes Reg S-K Modernization, Including MD&A

The Securities and Exchange Commission (SEC) announced rule amendments to modernize, simplify, and enhance certain financial disclosure requirements in Regulation S-K. The amendments include eliminating Item 301 of Regulation S-K, Selected Financial Data and Item 302 of Regulation S-K, Supplementary Financial Information to eliminate duplication. The rule also includes an amendment to Item 303 of […more]

Thursday, January 23, 2020

SEC Announces Conference on Municipal Securities Disclosures

The Securities and Exchange Commission announced that they are scheduling a conference titled “Spotlight on Transparency: A Discussion of Secondary Market Municipal Securities Disclosure Practices” to be held on March 10  at SEC headquarters in Washington D.C. from 9:30 a.m. to 4 p.m. The event will be open to the public, with advance pre-registration available here. A livestream of the […more]

Tuesday, January 21, 2020

FERC Extends Public Taxonomy Review to Mar 2. Technical Conference Rescheduled to Mar 24-26.

On January 21, 2020, the Federal Energy Regulatory Commission (FERC) announced plans to extend the public review period by 45 days because of a request for more time from industry representatives. The review period will now close on March 2, 2020. In addition, the technical conference, which will be open to vendors, issuers and the […more]

News

Tuesday, December 31, 2019

U.S. Federal Data Strategy – 2020 Action Plan Published

The U.S. Federal Data Strategy Plan, which provides a common set of data principles and best practices in implementing data innovations, was published on December 31, 2019. Annual action plans identify and prioritize practice-related steps for the year, and include targeted time frames and responsible entities. The plan outlines Agency Actions, Community of Practice Actions, and […more]

Monday, December 30, 2019

GREAT Act, for Grants Reporting, Signed into Law

The GREAT (Grants Reporting Efficiency and Transparency) Act, which  calls for data standards in grants reporting, was signed into law by the President on December 30, 2019. Key provisions of the bill include: Section 2. Purpose. The legislation is designed to modernize reporting by Federal grants recipients; implement recommendations of the Office of Management and […more]

Friday, December 20, 2019

GREAT Act Passes House and Senate

The GREAT (Grants Reporting Efficiency and Transparency) Act was passed by both the House and the Senate and now awaits the President’s signature. The GREAT Act calls for data standards in grants reporting, and defines data standards as those that will: “(1) render information reported by recipients of Federal awards fully searchable and machine-readable; “(2) be nonproprietary; […more]

Thursday, December 19, 2019

FERC Announces Public Taxonomy Review and Technical Conference Open to the Public

The Federal Energy Regulatory Commission (FERC) announced that the initial draft of the FERC Taxonomy, which the Commission has been developing for entities filing FERC forms 1, 1-F, 2, 2-A, 3-Q electric, 3-Q natural gas, 6, 6-Q, 60 and 714, is now available, along with supporting documents, at https://www.ferc.gov/docs-filing/forms/forms-refresh.asp. The taxonomy can be viewed in […more]