Our many readers with a passion for audit may enjoy a recent statement from Paul Munter, Acting Chief Accountant at the Securities and Exchange Commission (SEC), and the staff of the Office of the Chief Accountant (OCA).
The 2021 SEC Speaks event, held on 12–13 October, generated a wide range of comment from staff of the US Securities and Exchange Commission (SEC), covering subjects such as digital assets, private markets, and proactive enforcement.
Most of our readers will – we hope – agree that XBRL tagging makes reported data more decision-useful, but have you considered that it can also improve the reporting process itself?
A new post from Workiva’s Steve Soter offers his take on forthcoming enhanced climate disclosure rules, expected from the US Securities and Exchange Commission (SEC).
On 14 October, the White House published ‘A Roadmap to Build a Climate-Resilient Economy’ for the US. It outlines both a climate risk accountability framework and, based on these guiding principles, a whole-of-government implementation strategy to address climate-related financial risk.
The Financial Accounting Standards Board (FASB) has issued proposed technical and other conforming changes to the US GAAP Financial Reporting Taxonomy, along with accompanying release notes, for public comment.
The XBRL US Data Quality Committee (DQC) recently approved nine new validation rules, following public review and comment. This latest instalment of the Committee’s valuable ongoing work takes the total number of freely available DQC-approved rules to 83, applying to many hundreds of reporting concepts.
XBRL looks set to be deployed for reporting on funds stewardship in the US, facilitating access to information on how asset managers are voting at AGMs.
Another potential application of XBRL in the US took a step towards reality on 24 September, when President Biden signed the Congressional Budget Justification Transparency Act of 2021 into law.
What’s Next for the practical business of managing filings submissions in the US? Offering a more secure and straightforward process, the US Securities and Exchange Commission (SEC) has published a rule proposal on its ‘EDGAR Next – Improving Filer Access and Account Management’ project.