Flexible XBRL quality checks enabled as Assertion Severity 2.0 reaches Proposed Recommendation status
The XBRL Standards Board has approved the promotion of the Assertion Severity 2.0 specification to Proposed Recommendation status, helping XBRL users to apply data quality rules in highly flexible ways.
The Assertion Severity specification is an optional modular addition to the XBRL Standard, which extends the capabilities of XBRL Formula Rules. It allows users to classify validation rules – used to detect issues in XBRL reports – according to the severity of result they should generate: Error, Warning or Information. This makes it possible to apply these rules in the most appropriate way in different reporting contexts.
Version 2.0 adds the ability for a rule’s severity to be determined dynamically, tailoring the validation process even further. For example, an error-level rule that would normally cause a filing to be rejected may be downgraded to warning in circumstances where it is considered non-essential – or vice versa.
Proposed Recommendation status means that sufficient implementation experience has been obtained to be confident that no additional development is needed. If no further issues are identified the specification will be issued as a final Recommendation.
Read more here.