Newsletter for the Reporting Standard of Business and Government

May, 2026

SEC Division of Economic and Risk Analysis (DERA) renamed offices. The Office of Data Science has been renamed the Office of Advanced Analytics and Artificial Intelligence to "more accurately represent its dedication to enhancing analytical and artificial intelligence capabilities across the Commission." The Office of Structured Disclosure has been renamed the Office of Data Standards and Innovation to "underscore its work on innovative initiatives and its engagement with data across multiple formats. The name change also highlights a strategic commitment to applying data standards to the information collected by the Commission, making the data more accessible and easier to use." The Office of Data Science and Innovation has been renamed the Office of Innovative Data Engineering Analytics and Standards to "reflect its subsidiary offices' name changes and represent the Division's focus on innovation around data analytics and standards to advance mission capabilities and provide data to the public for easier use."

Read more about the name changes.

XBRL US responded to the second GENIUS Act Notice of Proposed Rulemaking from the Federal Deposit Insurance Corporation (FDIC). The request solicited comments on GENIUS Act Requirements and Standards for FDIC-Supervised Permitted Payment Stablecoin Issuers and Insured Depository Institutions - RIN 3064-AG19. The XBRL US Letter expressed our support for preparing digital asset reported information in structured, machine-readable format.

The SEC announced disclosure-related rule proposals, Registered Offering Reform and Enhancement of Emerging Growth Company Accommodations and Simplification of Filer Status for Reporting Companies. These rule proposals are part of the Securities and Exchange Commission's (SEC) comprehensive review of Regulation S-K described by SEC Chair Atkins in a statement published on January 26, 2026. In last month's newsletter, we noted that the Commission had initiated their work on Regulation S-K reform by publishing an announcement describing a proposal that would give public companies the option of filing semiannual reports in lieu of quarterly reports to meet their interim reporting obligations.

The Reg S-K reform continues with two additional proposals published on May 19. Registered Offering Reform expands the use of Form S-3 and the ability to conduct shelf offering to more issuers, revises Form S-1, makes changes to registration and communication for securities registered on Form N-2 (BDCs, and registered closed-end investment companies), and preempts State securities law registration and qualification. Read the fact sheet and the press release. The rule is out for a 60-day comment period which is initiated after publication in the Federal Register.

The second proposal on emerging growth company accommodations and filer status includes amendments aimed at streamlining filer status by establishing two primary categories: large-accelerated filers and non-accelerated filers. The non-accelerated filer category (NAF) would be further disaggregated into "SNF", smaller non-accelerated filers defined as those with total assets of $35 million or less, and "NAF", all other accelerated filers. While the proposal does not change existing reporting requirements, the question is posed as to whether SNFs should be exempt from XBRL filing in some or all Exchange Act reports. Read the fact sheet. This rule is out for a 60-day public comment period that ends on July 20, 2026. Read the statements about the rule by SEC Chair Atkins and SEC Commissioner Peirce.

The Government Accountability Office (GAO) fulfilled its FDTA obligations by publishing a report on how Standard Business Reporting could be implemented in the U.S. The REGULATORY REPORTING REFORM: Financial Data Transparency Act Requires Initial Steps Toward Government-wide Data Standards describes the potential benefits of SBR: improve the quality and efficiency of data analysis by regulators; improvement in oversight and more timely identification of compliance concerns; and reduced burden on reporting entities by eliminating duplicate reporting across agencies. The report also outlined the challenges of SBR in that regulatory agencies may need to modernize legacy data systems, coordinate across agencies, and manage data governance costs; and that reporting entities could incur costs for adapting processes and systems.

The GAO report addressed leading agency practice needed for standardization: 1) persistent leadership to centralize accountability and speed decisions, 2) establishing clear roles and responsibilities, 3) keeping stakeholders engaged, and 4) establishing written guidance to document collaboration.

Member News and Events

Post: Earnings Roundup Week 2: Still Strong - Read the blog.

Podcast: The Case for Standardizing the Way We Report Climate and Environmental Data - Listen to the discussion.

2026 Data Summit - Thursday, June 4 in Washington, DC. Get details and register.

XBRL US recommends leveraging structured data to maximize AI efficiency in its PCAOB comment letter. The Public Company Oversight Board (PCAOB) Request for Public Comment addressed their 2026-2030 strategic plan which aims to "...articulate the organization's goals and objectives in support of its statutory mission to protect investors and further the public interest in the preparation of informative, accurate, and independent audit reports. In addition to serving as a five-year roadmap for the organization, the PCAOB's strategic plan will be used to develop the PCAOB's budget each year."

The XBRL US letter encouraged the PCAOB to leverage the structured, standardized SEC financial statement data freely available for use as the most efficient resource for the plethora of AI tools available today. AI is most efficient (faster, less resource intensive, more consistently accurate) when it uses data in structured format. With AI, the PCAOB can create automated rules that can be run against SEC corporate filings in structured format to identify anomalies and situations where company financials do not comply with US GAAP standards. Company disclosures can be reviewed more broadly to identify weaknesses. Queries can be run more efficiently against structured data to glean insights. AI used with corporate XBRL formatted data can be a powerful addition to the PCAOB toolkit, going beyond the more traditional audit procedure review of checking that processes were appropriately followed.

XBRL US encouraged the U.S. Department of the Treasury to adopt open data standards for digital asset issuers at a federal and state level. The Treasury GENIUS Act Notice of Proposed Rulemaking Concerning State-Level Regulatory Regimes aims to establish guidelines to determine whether a state-level regulatory regime is substantially similar to the federal regulatory framework. The XBRL US letter noted the importance of enhancing this rule and future rules by requiring the application and ongoing disclosures by digital asset issuers to be prepared in structured, digital format using widely used, technology-neutral open data standards. Recommendations also included ensuring that disclosure requirements are harmonized across all GENIUS Act agencies and FDTA agencies to ensure interoperability of data and to reduce reporting burden.

CRAFT and XBRL US Convene Industry Leaders for "AI and Structured Data Forum: Optimizing Performance" at Stevens Institute of Technology. The full-day conference, held on Friday, May 15, brought together professionals from finance, accounting, regulation, technology, and academia to examine the growing intersection of artificial intelligence and structured financial data, and also addressed the role of data interoperability for reduced friction in decentralized finance. Review key findings, presentations and photos and read the press announcement.

XBRL US Events and Replays

Webinar: Structured Data Case Studies, Unlocking the Power of XBRL for Next-GEN Financial Analysis, June 17, 2026

As XBRL-tagged datasets expand across U.S. and global markets, analytical tools powered by structured datasets are transforming financial analysis.

This 60-minute session goes beyond the basics to examine real-world case studies showcasing how cutting-edge, analytics platforms are harnessing structured XBRL data to deliver analysis that's faster, deeper, and more precise than ever before. See firsthand how AI and machine learning engines — leveraging granular, machine-readable datasets — are surfacing insights that traditional models simply can't reach. Get details and register: https://xbrl.us/events/260617/

Webinar Replay - Accounting, AI, and Automation:Preparing for the Future of Finance

Listen to the conversation and watch the demonstrations on how AI is reshaping the world of corporate accounting. From automating complex reconciliations and detecting anomalies in real time to generating financial forecasts with unprecedented precision, AI is unlocking a new era of speed, accuracy, and strategic insight for finance teams. But with transformative power comes transformative responsibility. Hear speakers Julie Bishop, Chief Accounting Officer from McAfee; Tom Hood, Executive Vice President, Business Growth and Engagement, AICPA; and Campbell Pryde, President and CEO of XBRL US. This program was brought to you through a partnership with PRO Groups. Watch replay.

XBRL US Meetings

The Data Quality Committee (DQC) will meet on Thursday, June 25 to review results of Public Review for version 30 of Rules and Guidance for SEC filers. https://xbrl.us/dqc-260625

The Domain Steering Committee will meet Tuesday, June 16 at 2 PM ET. https://xbrl.us/events/dsc-260616 - all XBRL US Members are invited to attend

The Communications Steering Committee is on hiatus for the Summer.

The Regulatory Modernization Working Group will meet Tuesday, June 9 at 3 PM ET. (membership@xbrl.us for details)

The Standard Government Reporting Working Group will meet Tuesday, June 9 at 12:30 PM ET. (membership@xbrl.us for details)

The Technical Advisory Committee (XTAC) will meet on Wednesday, June 3 at 4 PM ET. (membership@xbrl.us for details)

The Academic Subcommittee is on hiatus for the Summer.

The Digital Asset Working Group will meet Friday, June 12. (membership@xbrl.us for details)

XBRL US Members are committed to engaging and collaborating with other members, contributing to the standard through involvement of their teams, and striving to build awareness and educate the market. Members of XBRL US represent the full range of the business reporting supply chain.

Not yet an XBRL US member? Maybe it's time to consider joining XBRL US for yourself ($55 - $550/ year) or your organization (fees vary). Find out more about the benefits of membership and how to become involved by visiting https://xbrl.us/benefits.