XBRL US urges refinements to SEC’s 2026 draft taxonomies
Earlier this month XBRL US submitted a detailed comment letter to the US Securities and Exchange Commission (SEC), offering recommendations on recently published Draft 2026 SEC Taxonomies.
In the letter XBRL US addressed a range of technical and editorial issues across the EXCH, SPAC, RXP, VIP and Filing Fee Disclosure (FFD) taxonomies, advocating for clearer guidance and improved usability.
Key suggestions include correcting inconsistencies in the SPAC Taxonomy’s use of dimensions, revising data type descriptions in the VIP Taxonomy’s release notes, and removing unused elements from the RXP Taxonomy. XBRL US also called for the SEC to provide sample instance documents for newer or updated taxonomies and proposed the creation of an online taxonomy viewer to help filers explore taxonomy elements and relationships.
SEC’s annual updates to its taxonomies are critical to ensuring accurate, efficient disclosure and aligning with evolving reporting requirements. Enhanced guidance, visualisation tools, and robust implementation support are all vital in helping filers adopt new taxonomies confidently and accurately.
Read the comment letter here.
