XBRL US supports proposal requiring LEI for Surveys
The US Department of Commerce is consulting on a proposed rule update to International Services Surveys (BE-180), including a plan to require survey respondents that have a Legal Entity Identifier (LEI) to provide it.
XBRL US has submitted a comment letter in support of this proposal, arguing that the LEI ‘presents a critical opportunity to provide needed clarity around organizational provenance’.
The LEI is an open, non-proprietary global identifier that helps track entity ownership and wider ownership networks. Additionally, this increased transparency on ownership improves the usability and comparability of data reported by these entities.
Requiring the LEI from survey respondents would be a small but useful step towards further expanding and integrating the use of the LEI within business reporting.
Read more and see the comment letter here.