Media

Monday, July 8, 2019

Sunlight Foundation Article: California, Florida Leading the Way to Local Government Fiscal Transparency

Marc Joffe, Senior Research Analyst at the Reason Foundation, and Chair, XBRL US State & Local Government Working Group, authored an article published by the Sunlight Foundation, where he noted: “In May, the California State Senate passed SB 598, the Open Financial Statements Act.  The vote was an important milestone on the way toward opening up […more]

XBRL US Member Presents at Data Coalition Event on Federal Data Strategy

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]

XBRL US Comments on Federal Data Strategy Year-1 Action Plan

XBRL US submitted a response to the White House Office of Management and Budget, in response to the Federal Data Strategy Year-1 Action Plan. The letter noted that to attain the long-term vision of the Federal Data Strategy to better govern and leverage the Federal Government’s data, requires developing and implementing a single cross-agency data […more]

Tuesday, July 2, 2019

SEC Roundtable on Short-Term/Long-Term Periodic Reporting & Regulatory Requirements

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]

Friday, June 28, 2019

SEC Analysis of Extensions in XBRL Submissions

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.

Tuesday, June 25, 2019

XBRL US Comment Letter RE: FERC Electric Transmission Incentives Policy

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]

Thursday, June 20, 2019

Navigating New Developments in Financial Reporting

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]

FERC Adopts XBRL for Utilities Reporting

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]

Wednesday, June 19, 2019

GREAT Act for Grants Reporting, Passes Committee on Homeland Security & Govt Affairs

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]

SEC News from Novaworks Software

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