Third Round of DQC Rules Released.
Yesterday the third set of XBRL US Data Quality Committee Rules were released publicly, together with a recommendation that US issuers run the (free) machine executable rules over their filings before submitting them to the SEC.
Regulators of all kinds should examine the DQC program for insight into ways that XBRL formatted data can be automatically reviewed to catch business and accounting logic mistakes before it even leaves the filer’s premises. Get in touch with XBRL International for more information.
And US Issuers (of course) should add these rules, covering some 3300 reporting concepts into their rules engines. Find out more here.