A new pilot programme in Flint, Michigan will explore how the use of XBRL can improve transparency in fiscal reporting and lead to better governance, potentially averting crises in municipal finance.
It’s been a busy week for our colleagues in the US. XBRL US has submitted a letter to the Municipal Securities Rulemaking Board (MSRB) planning exercise on Strategic Goals and Priorities, urging it to consider how data standards would enhance the current Electronic Data Municipal Markets Access (EMMA) data collection and dissemination process. XBRL US expressed […]
The US Municipal Securities Rulemaking Board (MSRB) is responsible for regulating the US municipal securities market and aims to support muni market transparency, including through its Electronic Municipal Market Access (EMMA) system. EMMA is a key source of muni bond disclosures.
How does Turkey measure up in a machine-readable world? At a national level, Turkey doesn’t release collected data to the public to enable analysis – however, a public sector effort at a different level is trying to fill in the gaps.
Could municipal bond markets be due a shakeup? In an article on Forbes this week Barnet Sherman makes the case for a system-wide upgrade of muni markets, citing XBRL as the tool to take municipal disclosures into the 21st century.
With the idea that knowledge is transformative sitting at the heart of most educational institutions, it is perhaps unsurprising that a college is currently at the vanguard of structured municipal reporting in the US.
Rachel Carpenter, CEO of Intrinio, recently highlighted the many benefits proper XBRL filing implementation would offer US municipalities.
Should the federal funds being used to boost US state and local budgets after a steep Covid-19-induced decline be dependent on better transparency?
In Montreal, a financial planner can set a trigger to distribute a financial report the moment their budget is exceeded. In New Hampshire, accountants can easily look at the number, type and relationship between a taxpayer’s bills, all in a single portal. And in LA, a self-service data analytics tool allows users to create the […]
The Covid-19 crisis has made it clear how important it is to be able to quickly access and interpret data in a rapidly moving market. While public companies in the US report XBRL-tagged financial information to the SEC quarterly, making up-to-date data relatively easy to analyse, municipal data is much harder to find.
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XBRL International is a global not for profit operating in the public interest. Our purpose is to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting.
