SEC updates Interactive Data Test Suite

Posted on September 17, 2021 by Editor

The Securities and Exchange Commission (SEC) has announced the latest updates to its Interactive Data Test Suite, and is now welcoming comments. A change log is available summarising what is new in this version.

The test suite helps software developers test their products, specifically in terms of whether they will generate XBRL reports that successfully – when appropriate – pass validation tests, and will therefore be accepted by the SEC. These tests are carried out automatically to check data quality before a report is submitted to the Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system. The suite essentially consists of numerous data samples, including reports, schema and linkbases, categorised as to whether they violate a validation check, and if so, which one and whether it would result in a warning or, more seriously, in an error that would cause rejection by EDGAR. These are free for anyone to test against their software.

Read more here and here.

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