April 2024 Newsletter

April, 2024

XBRL US GovFin 2024: Municipal Reporting Workshop to take place in New York, NY, July 29-30, 2024. The 1 ½ day conference, hosted by PwC at 300 Madison Avenue, will address the implications of the Financial Data Transparency Act (FDTA) on municipal bond market stakeholders, from government bond issuers to portfolio managers and analysts to regulators.

Speakers have been confirmed from the City of Columbus, Ohio; DAC Bond; DPCDATA; Eide Bailly LLP; the Financial Accounting Standards Board (FASB); the Governmental Accounting Standards Board (GASB); the National Association of Bond Lawyers (NABL); the SEC Office of Municipal Securities; SEC Office of Structured Disclosure; Virginia Housing Authority; and more. Learn more and register: https://xbrl.us/govfin24

XBRL US commented on the European Financial Reporting Advisory Group (EFRAG) consultation on the European Sustainability Reporting Standards (ESRS) Taxonomy. The XBRL US comment letter provided input on technical issues related to taxonomy development.

Updated EDGAR Filer Manual adopted by the SEC. The Securities and Exchange Commission (SEC) announcement of the adoption of the updated EDGAR Filer Manual (EFM) was published in the Federal Register with an effective date of April 19, 2024. XBRL-related changes in the new EFM include Inline XBRL mandate for financial statements and schedules required by Form 11-K, shortening the securities transaction settlement cycle, removal of references to share repurchase disclosure modernization and various taxonomy updates. The most significant change is to move EFM II, Chapter 6 section on XBRL into a new EDGAR XBRL Guide.

XBRL US Events

Webinar: SEC Rule – Tailored Shareholder Reports for Mutual Funds and ETFs, May 15, 2024 at 3 PM ET.
The Securities and Exchange Commission’s (SEC) final rule for Tailored Shareholder Reports for Mutual Funds and Exchange-Traded Funds; Fee Information in Investment Company Advertisements adopts amendments for annual and semi-annual shareholder reports from mutual funds and exchange-traded funds to highlight key information for shareholders. The rule also requires that funds tag their reports using Inline XBRL to provide machine-readable data that retail investors and other market participants may use to access and evaluate investments more efficiently.

Attend this webinar to learn about the structured data requirements of the rule, how fund workflow can be expected to change, and how to prepare a Tailored Shareholder Report in structured, machine-readable format. Hear speakers from the Securities and Exchange Commission, Division of Investment Management; Broadridge Financial Solutions, Inc.; Donnelley Financial Solutions (DFIN); Novaworks, LLC; NeXtBRL; and Toppan Merrill.

Learn more about the program and register: https://xbrl.us/events/240515/

XBRL US Meetings

Data Quality Committee
The next Committee meeting will be held Thursday, June 27. Get details and register: https://xbrl.us/dqc

The Domain Steering Committee will meet Tuesday, May 21, at 2 PM ET. https://xbrl.us/events/dsc-240521/ – all XBRL US Members are invited to attend

The Communications Steering Committee will meet Tuesday, May 21, at 3 PM ET. https://xbrl.us/events/csc-240521/ – all XBRL US Members are invited to attend

The Regulatory Modernization Working Group will meet Tuesday, May 14, at 3 PM ET. (membership@xbrl.us for details)

The XBRL US Standard Government Reporting Working Group will meet Tuesday, May 28, at 12:30 PM ET. (membership@xbrl.us for details)

The XBRL US Technical Advisory Committee (XTAC) will meet on Wednesday, May 15, at 4 PM ET. (membership@xbrl.us for details)

The next meeting of the Academic Subcommittee will meet on Monday, May 6, at 1 PM ET. (membership@xbrl.us for details)

XBRL US Members are encouraged to attend and get involved.

XBRL US Articles, White Papers, and Blogs

Blog Post: Ten tips & techniques for using the XBRL API.
David Tauriello, Vice President of Operations, XBRL US provides ten great ideas on how to improve your own productivity when working with the XBRL API. If you’re interested in accessing lots of highly granular, timely financial fundamental data, be sure to read this blog. You can get live support on Mondays between 3:30 and 4:30 PM ET or schedule an appointment online – visit the Data Community page for details. Request XBRL API provisioning with your organizational email address and get a 10-day trial of full access to evaluate the depth and breadth of data in your favorite programming language or spreadsheet application.

White Paper: California – Digital First Climate Data. To meet the goals of climate initiatives worldwide requires governments to understand the impact of industry on the environment. This can only be accomplished by standardized, digital data that is concretely understood, timely, and consistently prepared to foster a shared understanding of the current state of climate risk and to monitor changes going forward. Read the paper and fact sheet to learn more about global and US initiatives and how digitization can help. paper and fact sheet.

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 – $500/ 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.