Much was accomplished in 2020, in large part thanks to members of XBRL US. Our work together sets the stage for an exciting 2021.
The SBA’s Paycheck Protection Program distributed $500 billion to nearly 4.9 million businesses. This funding was critical to helping small business. But it could have been more effective if loan and grants data was collected in structured, machine-readable format.
The success of the GREAT Act depends on the data standards, and the implementation. That’s why it’s important to have all the facts on how grantees report today, and on how the right standard can be applied to not only meet the “letter of the law” but fulfill the promise of this important legislation.
Investors Need More (Not Less) Auditor Input about Smaller Companies. Structured (XBRL) data helps identify the risks of a proposed SEC change to definitions for accelerated and large accelerated filers.
Data from U.S. public companies has been produced in machine-readable format for over ten years. But data from U.S. federal, state and local governments is still posted in paper-based documents. Governments should be as accountable to taxpayers as corporations are to shareholders.