The Covid-19 crisis has prompted unprecedented, large-scale relief programmes in the US, creating new data collection needs that could benefit from the XBRL standard.
XBRL has a number of exciting projects in the pipeline – not least the expansion of structured, machine-readable data to all of Europe with next year’s ESEF mandate. However, sometimes it’s worth looking backwards to take note of successful implementations that have been humming along for some time now.
Rachel Carpenter, CEO of Intrinio, recently highlighted the many benefits proper XBRL filing implementation would offer US municipalities.
Earlier this week the Securities and Exchange Commission (SEC) published the draft 2021 SEC Taxonomies for public review and comment.
You may recall from the newsletter last week the announcement of the Recommended Extensible Enumerations 2.0 specification – which powers extensible lists within XBRL reports – being implemented by the Financial Accounting Standards Board (FASB) for use with SEC filings from 2021.
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?
XBRL US has published a guide for US regulators and US based industry experts looking to develop taxonomies that align with common practice in that country.
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.
A recent XBRL US comment letter expresses support for the Commodity Futures Trading Commission (CFTC) proposal to introduce reporting standards and expand the use of the Legal Entity Identifier (LEI) – but urges the CFTC to require the use of a single data standard. The CFTC has proposed changes to the Swap Data Recordkeeping and Reporting […]
Of relevance to software vendors working with US filings, this week the US Securities and Exchange Commission (SEC) updated its interactive data test suite in order to help software vendors to produce filings that conform to the rules set out in the Edgar Filing Manual. The test suite is a way of expressing those rules in […]