Regulatory and Legislative News
XBRL US News
XBRL US Members
Regulatory and Legislative News
Google’s BigQuery Now Hosting SEC Data
Google’s BigQuery is now hosting SEC public company data in XBRL format and provides sample queries that can be run by visitors. BigQuery is an enterprise data warehouse developed to store and query very large datasets. BigQuery hosts users data and enables fast SQL queries using the processing power of Google’s infrastructure.
SEC Proposal on Investment Company Liquidity Measures Out for Public Comment
The proposal, Investment Company Liquidity Measures, builds off the final rule adopted in October 2016 for new forms N-PORT and NCEN. In that final rule, they opted for XML formatting instead of XBRL. XBRL US had submitted a comment letter at the time, advocating the use of XBRL since much of the reported data was financial in nature.
The new publication proposes requiring the disclosure of additional narratives by investment companies and asks the question: Do investors have a reason to access, reuse, or compare the narrative information? If so, would investors’ ease of access and usability of the information improve if the information were provided in a structured format (e.g., XML, XBRL, Inline XBRL)? If so, which structured format would be most useful and why?
Comments are due May 18, 2018.
SEC Posts FAQ on the IFRS Notice
On March 30, the SEC posted an FAQ on the SEC notice regarding the availability of the IFRS Taxonomy.
Read the FAQ: https://www.sec.gov/structureddata/ifrs_taxonomy
SEC Updates Interactive Data Test Suite
On March 14, the Commission updated its interactive data test suite to include tests that use the 2018 US GAAP, 2018 SEC Reporting, 2018 Document and Entity Information (DEI), 2018 Exchanges (EXCH), 2018 State and Province (STPR) and 2018 Risk-Return (RR) taxonomies. The purpose of the public test suite is to assist filers using software to validate Interactive Data prior to its submission to EDGAR.
SEC Supports the 2018 XBRL Taxonomies
The SEC announced that the EDGAR system was upgraded to Release 18.1 and now supports the 2018 US GAAP, 2018 SEC Reporting (SRT), 2018 Document and Entity Information (DEI), 2018 Exchanges (EXCH), 2018 State and Province (STPR) and 2018 Risk-Return (RR) taxonomies.
XBRL US News
XBRL US Domain Steering Committee Closes Public Review for Draft Reference Document: Taxonomy Approval Metrics & Process
The reference document was out for a 30-day public review period, that ended April 5, 2018. The document establishes standards for the development of XBRL taxonomies and supporting materials, from the perspective of systems development. It will serve as an integral part of the XBRL US Taxonomy Approval Process to determine taxonomies that will be certified to produce consistent, good quality XBRL data that is easy to use, accessible, and consistent.
Read the Taxonomy Metrics Approval Metrics & Process: https://xbrl.us/xbrl-reference/tam
Candidate Release of Orange Button Solar Finance Taxonomy Finalized
SunSpec Alliance and XBRL US completed a second 30-day public review period, and published a candidate release of the Orange Button Taxonomy. Orange Button is a U.S. Department of Energy Solar Energy Technologies Office-funded program, that aims to make it easier to exchange solar data, facilitating more efficient and cost-effective financing of distributed energy projects.
Visit the Orange Button Taxonomy page: https://xbrl.us/home/industries/solar
Webinar on SEC Reporting Taxonomy, Featuring Speakers from SEC & FASB
XBRL US will host a webinar on May 1, 2018, featuring Mike Willis from the Securities and Exchange Commission, and Louis Matherne, from the Financial Accounting Standards Board, providing guidance on use of the SRT.
Register for the free webinar: https://xbrl.us/events/20180501
Replays of Recent Webinars Now Available
Validation Rules for IFRS and US GAAP – Participate in the Public Review, April 11, 2018
The Data Quality Committee presents the latest set of data quality rules which now include rules for both IFRS and US GAAP preparation in XBRL.
Watch the replay: https://xbrl.us/events/20180411
XBRL (beta) APIs – to Extract, Process & Create, March 14, 2018
Watch the replay: https://xbrl.us/events/20180314
Point of View: SEC Sites Add the “S” in “httpS://”
Herm Fischer, XBRL Developer, Mark V Systems Limited
Learn how and why government sites are migrating to HTTPS, a more secure protocol. Find out how SEC filers and vendors can determine which taxonomy sites are currently “HTTP” or “HTTPS”.
Read the post: https://xbrl.us/xusnews/pov
Recent Point of View topics
Recent & Upcoming XBRL US Speaking Engagements
Register to Attend XBRL US Data Quality Committee Meeting, Wednesday, June 27 at 1 PM ET
At this meeting, industry leaders will participate in discussions and plans for developing guidance and rules for use by public companies complying with the XBRL requirements of the US Securities and Exchange Commission.
Get information about the Committee and register to attend: https://xbrl.us/dqc
Upcoming XBRL US Steering Committee Meetings
XBRL US Members are invited to attend and get involved. Email email@example.com for details.
XBRL US Members
Welcome to our newest organizational member – Richey May https://richeymay.com
Founded in 1985, Richey May provides assurance, tax and business advisory services to clients throughout the Denver metropolitan area and the United States. The firm has many long-standing client relationships built upon trust and quality service. Its knowledgeable staff is dedicated to identifying new and innovative ways to exceed client expectations and helping them achieve their personal and professional goals.
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 ($50 / year) or your organization (fees vary). Find out more about the benefits of membership and how to become involved by visiting http://xbrl.us/benefits.
About Data Quality
SEC filers should all use freely available, Data Quality Committee rules to identify and resolve errors in XBRL-formatted financials for more consistent, better quality data.
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