The successful implementation of data-centric programs requires a three pronged approach that addresses infrastructure, business processes and business requirements.
Business Reporting is both a political and regulatory exercise, and there have been recent movements on both fronts in the US.
XBRL US has joined a US Department of Energy initiative to set data standards for the solar industry.
XBRL US is seeking public comment on five new sets of validation rules to address common XBRL input errors.
The SEC has accepted its first iXBRL filing. Follow the link to the SEC’s iXBRL viewer.
The US SEC has announced a voluntary program allowing firms it regulates to use Inline XBRL (or “iXBRL”). This is another very welcome step forward in enhancing transparency and accountability in reporting.
Efforts by the Data Quality Committee in the US are paying off . . . filing errors drop 64 percent.
A committee of the US Senate has advanced legislation mandating all public federal information in the US be presented in searchable formats and be made freely available for everyone to use.