Point of View is a forum for opinions and thoughts from XBRL US and the XBRL community about business, industry, finance, regulation and legislation, where data standards can play a role. We welcome your feedback on the XBRL point of view.

Single Audit, data standards, and the GREAT Act

Campbell Pryde, President and CEO, XBRL US

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.

Earlier (2020)

Investors Need More (Not Less) Auditor Input about Smaller Companies

Mohini Singh, ACA, Director, Financial Reporting Policy Group, CFA Institute

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.

How are U.S. governments spending YOUR tax dollars?

USAFacts, DFIN and XBRL US

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.

Earlier (2020)

Standards Support Small Business During COVID-19 Crisis

Protect small business. Make rapid decisions. Use high quality data.

Thousands of small businesses seek funding to protect workers and livelihoods. What’s needed now is a single set of standards to collect, process, and analyze loan data. Follow these 5 steps to build a system that can execute cost-effectively, efficiently, rapidly.

We can be better prepared – let’s get ready now.

Shannon Sohl, CPA, PhD, Senior Research Analyst, Northern Illinois University Center for Governmental Studies
Crisis situations like COVID-19 have big implications for how we should run businesses and set government policy. Get connected to COVID-19 relief resources for businesses.