SEC releases draft taxonomy updates for feedback
The US Securities and Exchange Commission (SEC) has published draft 2021Q4 and 2022 updates to the SEC taxonomies, and now welcomes public comment. These XBRL taxonomies are used for reporting financial data to the SEC via its Electronic Data Gathering, Analysis and Retrieval (EDGAR) system.
The 2022 draft release updates all standard SEC-maintained taxonomies for acceptance in EDGAR, as part of the Commission’s annual review process. In addition, the draft 2021Q4 release makes modifications to the Document and Entity Information (DEI) taxonomy and the new proposed Closed-End Fund (CEF) taxonomy. It removes certain document- and entity-related concepts from the CEF taxonomy that are already found in the DEI taxonomy, while for the DEI taxonomy it updates certain references and adds concepts for tagging auditor information.
All those interested in reporting in the US – including filers, investors, analysts, software providers and more – are invited to view the taxonomy files and release notes, and to contribute to the feedback process. Comments are due by 1 November 2021.
Read more here.